The Russian-Kyrgyz Development Fund actively finances projects in the field of renewable energy sources

Chairman of the Board of the Russian-Kyrgyz Development Fund (RKDF) Artem Novikov today took part in the meeting of the Minister of Energy of the Kyrgyz Republic with entities operating in the field of renewable energy. The topic of discussion was legislation and problems of implementation of RES projects.

Since 2022, the RKDF has been actively involved in the modernization of the country's power industry by supporting renewable energy projects. The fund offers entrepreneurs beneficial preferential loans and is open to consideration of all projects. Its conditions for providing funds are much simpler than in any commercial bank and financial institution of the Kyrgyz Republic.

Currently, the RKDF has three RES projects with a total capacity of 12.5 MW at the financing stage. Seven more projects for 185 MW are under development, including the Kulanak HPP and the Bala-Saruu HPP. In addition, together with the Ministry of Energy and investors, the construction of a solar station with a capacity of 300 MW is being worked out.

“The President, the Cabinet of Ministers and the Ministry of Energy are making great efforts to change the legal framework governing the construction of renewable energy capacities. This will allow our entrepreneurs, investors and financial institutions to conduct more efficient and faster work on the construction of new RES capacitiesn the Kyrgyz Republic,” said Artem Novikov.

In particular, amendments to the law "About pledge". “Its current version prohibits taking private HPPs as pledge. The exclusion of this rule will make it much easier for recipients of credits to lay down future splantsand secure collateral. Financing of fsmall hydropower plants projects will accelerate, and capacities will grow at a faster pace,” Artem Novikov emphasized.

“An important point is also the contract for the sale of electricity, which will provide for the indexation of the tariff, taking into account changes in the exchange rate,” he added.