Kyrgyzstan, IFC Seal Deal For Second Phase Of Solar Energy Project

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, June 11. The Ministry of Energy and the Ministry of Economy and Commerce of Kyrgyzstan have signed an agreement with the International Finance Corporation (IFC) for the second phase of a solar energy development project, Trend reports.

According to the Ministry of Economy and Commerce, the document was signed following the International investment Energy Forum in Vienna.

The second phase is expected to include projects for two solar power plants with a capacity of 100–150 MW each in the Batken and Talas regions.

This agreement solidifies the ongoing partnership between the Kyrgyz government and IFC to establish a solar power park with a maximum capacity of 500 MW across various project stages. The objective is to enhance the utilization of sustainable energy sources in order to fulfill the rising need for electricity.

In the first phase of this cooperation, IFC assisted Kyrgyzstan in conducting a comprehensive analysis and structuring a pilot solar power project with a capacity of 100–150 MW, planned for the Kochkor district in the Naryn region.

Currently, IFC is helping to conduct an international tender to attract a private investor. Four major international companies have submitted applications for the announced tender, and an evaluation is underway to determine the list of qualified candidates. The next stage of the tender is expected to begin in the coming weeks.

The project is focused on boosting domestic electricity production in Kyrgyzstan, expanding the range of energy sources, and minimizing greenhouse gas emissions. It aligns with the country's Energy Sector Development Strategy until 2035, developed with the assistance of the World Bank, which includes the development of 1,500 MW of renewable energy in the coming years.


Trend News Agency

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