According to him, several international donors are financing the CASA-1000 project. At the beginning, the World Bank allocated 45 million dollars, then the European Investment Bank added 70 million euros. The Islamic Development Bank also became a participant, providing 50 million dollars. Additionally, in the post-COVID period, additional funding was received due to rising prices for materials and services. The loan is granted on favorable terms, with an interest rate of 1.5% for a period of up to 50 years, Moldokerimov noted.
Read on the topic Loan for closing the debt on CASA-1000: the President of the Kyrgyz Republic ratified the contract
Azim Moldokerimov also emphasized that the republic will be able to recover the invested funds and generate profit within 15 years after the start of commercial operation of the line.
“As a result of the transit and operation of the CASA-1000 line, OJSC ‘NESK’ will earn 322 million dollars, while ‘Electric Stations’ or other electricity suppliers will receive 5.15 cents for each kilowatt-hour. This will ultimately ensure a profit of 1.5 billion dollars for the energy companies of Kyrgyzstan over 15 years,” he added.
The CASA-1000 project is aimed at exporting electricity and integrating the energy systems of Central and South Asia, ensuring supplies from Kyrgyzstan and Tajikistan to Afghanistan and Pakistan.
The project was launched in 2016, and its goal is to transmit 1,300 megawatts of excess electricity from the region to high-demand markets in South Asia, which requires the creation of new energy infrastructure.
Electricity supplies are scheduled for the summer months.
