The main agreement was signed on July 25, 2025, after its approval by order No. 556-t dated July 1, 2025.
The Minister of Energy, Talaybek Ibraev, was authorized to sign the Additional Agreement on behalf of the Cabinet, including the right to make non-essential changes.
The Additional Agreement specifically clarifies:
- the obligations of the Cabinet of Ministers remain in effect, except in cases where the investor or the company significantly and intentionally violate their obligations, including non-compliance with construction, environmental, labor, and tax regulations, as well as project implementation schedules;
- the legal framework of the agreement changes from the legislation of the Kyrgyz Republic to the legislation of England and Wales;
- the list of political and legal events that exempt the company from fulfilling obligations has been expanded, including changes in legislation that may negatively affect the legal or commercial status of the investor;
- the grounds under which the Cabinet of Ministers may terminate the agreement have been clarified (for example, delays in the start of construction for more than 12 months without valid reasons, serious environmental violations, threats to public and national security, transfer of rights without the Cabinet's consent, liquidation or bankruptcy of the company).
- The agreement also states that in the event of termination initiated by the company, the Cabinet commits to buy the solar power plant from the investor and compensate all capital costs, financing expenses, and termination costs within 60 days, including lost profits and penalties without mutual offsets.
The Additional Agreement will be an integral part of the Investment Agreement and will come into force upon its signing. In case of discrepancies between the Russian and English texts, the English version shall prevail. The Cabinet of Ministers confirms that the investor has fulfilled all the requirements of the legislation of the Kyrgyz Republic for concluding this agreement.
Context of the Situation
It has been reported that a solar power plant will be built in the village of Kyzyl-Oruk on Issyk-Kul, according to the Ministry of Energy.
In July, the company began delivering equipment to the construction site and started performing priority works.
Additional Information
According to data from the Ministry of Justice of the Kyrgyz Republic, the director of LLC "RECA" is Fam Min Ban, and the founders are "Sonningdale Limited" and Le Quang Hieu.
LLC "RECA Bishkek" and LLC "RECA Issyk-Kul" are also registered in the Ministry of Justice database.
The text of the Additional Agreement is available for review by subscribers of the Tazabek building.
