MOSCOW, Feb 6 (PRIME) -- Kyrgyzstan has suggested Russia resume construction of the Verkhne-Narynsky hydropower complex, an intergovernmental agreement on which Bishkek scrapped in 2016, a spokesperson for the Energy Ministry told PRIME on Wednesday.
“Indeed, the Kyrgyz side suggested a return to the project. Currently, the issue is being worked out by the federal executive authorities and interested companies. The terms of resuming cooperation have not been discussed with the Kyrgyz side,” the spokesperson said.
In 2012, Russia and Kyrgyzstan signed an agreement on construction of the Verkhne-Narynsky complex consisting of four plants. In 2016, the Kyrgyz government cancelled the agreement unilaterally, while RusHydro already invested U.S. $37 million of own funds in the project.
In July 2017, the then-Prime Minister of Kyrgyzstan Sooronbay Jeenbekov signed an agreement with Czech company Liglass Trading CZ to restart construction of the Verkhne-Narynsky cascade. Under the deal, Liglass Trading CZ was to repay a $37 million debt to RusHydro, but it failed to do so on time. Kyrgyzstan terminated the agreement in October 2017.
In October 2018, RusHydro has filed a suit with the Permanent Court of Arbitration in the Hague against Kyrgyzstan seeking compensation of its losses.
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