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    Central Asia

    Kazakhstan wants guarantees for investment return in Kambar-Ata-1 project

    Kazakhstan wants guarantees for investment return in Kambar-Ata-1 project

    April 6. An energy expert, a member of the public council of the Ministry of Energy of the Republic of Kazakhstan Almaz Abildaev said that Kazakhstan needed guarantees for the return of money invested in the construction of the Kambarata HPP-1, and the sale of at least half of the electricity towards the northern neighbour. 24kg reports.

    According to the expert, today one of the important areas is energy security and energy diplomacy. Kazakhstan needs clean green energy. Already, a clear shortage is brewing in the south of the country.

    “The construction of Kambar-Ata-1 would be a great opportunity to solve the energy security issues of Kazakhstan and, possibly, Uzbekistan. Kambarata HPP-1 would solve the problems in Kyrgyzstan, as there is a need for the seasonal purchase of electricity from Kazakhstan. Again, experts talk about jobs and the multiplier effect. But there are also questions. Kazakhstan is to invest $300 million in the project, but it has not yet been specified on what terms the contract will be drawn up. There is only a roadmap. We need a guarantee of a return on investment. This should form the basis of agreements between the countries,” Almaz Abildaev emphasized.

    09.04.2023, 17:09   Comments (0)   1402
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