New hydro power plant with a capacity of 24.9 MW will be built on Turgusun river in the East Kazakhstan region, Development Bank of Kazakhstan said in a message.
Turgusun HPP-1 will produce up to 79.8 million kilowatt hours of electricity per year.
The Turgusun hydro power plant in Zyryanovsk district of East Kazakhstan region will produce 23 percent of the electricity demanded by the district and reduce carbon dioxide emissions by 680 tons per year.
The project will cost 11.6 billion tenge (312.6 tenges $1), 5 billion tenge of this sum will be provided by the Development Bank of Kazakhstan.
The project is financed within the State Program on industrial-innovative development in 2015-2019. The loan term is 12 years.
To date, all the infrastructure required for the hydro power plant has been built - roads, power lines, bridges. Construction of the hydro power plant will start in 2017 and expected to be completed by 2018.
China International Water and Electric Corporation is a general contractor of the project. It also supplies equipment for the plant.
The demand for electricity in East Kazakhstan region is increasing. In 2015 electricity shortage in the region hit 2.2 billion kilowatt hours. It was covered by supplies from other regions of Kazakhstan and import from Russia.
Development Bank of Kazakhstan is state owned bank which promotes sustainable development of Kazakhstan’s national economy through investments to non-energy sector of the country.
World media monitoring