ENP Newswire -
Release date- 25072014 - EBRD signs its largest project in
In its largest project in
The total cost of the project is approximately
The first phase of the upgrade programme will increase the plant's current capacity from 126MW to 142MW with the installation of two new and larger turbines. This will prevent wasteful water spills and generate more electricity with the same flow of water, increasing the plant's efficiency. The investment will also finance the installation of upgraded equipment that will raise safety levels and strengthen the plant's resilience against the impacts of climate change.
In addition, financing will be used for the ongoing restructuring of Barki Tojik, a state-owned power company responsible for generation, transmission and distribution of electricity. The funds will help to improve the operational and financial performance of the company.
The project will not only address institutional barriers to electricity tariff reform by adopting and implementing new tariff methodologies in line with international standards, but will also assist with introducing relevant legislation, a key priority for the development of the Tajik energy sector. Tariff reform is essential to improve this sector's commercial appeal.
Tajik Minister of Finance Abdusalom Kurbonov said: 'The collaboration between our country and the EBRD has been developing strongly over the past few years. EBRD support is very important for our economic development.'
Aida Sitdikova, EBRD Director for Energy and Natural Resources in
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