Uzbekistan Says $4.2 Bn Kambarata Hydropower Project Draws $5.6 Bn in Global Funding Interest
The construction of the Kambarata Hydropower Plant-1 (HPP-1) is estimated at $4.2 bn, Uzbekistan’s Minister of Energy, Jurabek Mirzamakhmudov, announced.
According to the minister, some of the world’s largest banks and investment funds have expressed strong interest in the project, with the total financing portfolio now reaching $5.6 bn.
Mirzamakhmudov noted that a recent meeting took place in Brussels between the energy ministers of Uzbekistan, Kazakhstan and Kyrgyzstan, supported by the World Bank. During the meeting, the project was recognised as a model of regional cooperation and an important step towards developing renewable energy in Central Asia.
He also underlined that the hydropower plant’s construction will not require the resettlement of local residents and will help participating countries manage their shared water resources more efficiently.
Under the current ownership structure, Kyrgyzstan holds a 34% stake in the project, while Uzbekistan and Kazakhstan each own 33%. Each country will be entitled to purchase electricity proportional to its share, Mirzamakhmudov added.
Kursiv also reports that Uzbekistan will launch new HPPs with combined capacity of 162 MW.
