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Unified Energy System

January 13, 2005

Chairman of the Management Board of RAO "UES of Russia" Anatoly Chubais, Tajikistan's Energy Minster Jurabek Nurmakhmatov and Iranian Energy Minister Habibollah Bitaraf sign Protocol on the construction of Sangtuda HPPs

Moscow. 13 January 2005. The Chairman of the Management Board of RAO "UES of Russia" Anatoly Chubais, the Energy Minster of the Republic of Tajikistan Jurabek Nurmakhmatov, and the Energy Minister of the Islamic Republic of Iran Habibollah Bitaraf have held talks in Dushanbe and signed a Protocol on the completion of construction and operation of the Sangtuda HPPs in the Republic of Tajikistan.

Under the Protocol, Sangtuda HPP-1 is to be completed by Russia and Tajikistan, and Iran will join Tajikistan to complete Sangtuda HPP-2.

After the talks, Anatoly Chubais told a press-conference that a separate legal entity would be created to implement the project, with Tajikistan contributing the part of the construction project completed thus far to that legal person. This is to be the first part of the overall financing volume and the arrangements for raising assets needed to complete the construction. The second part will be USD200 million in funds to be contributed by Russia, and the third part will consist in the conversion of Tajikistan's USD50 million debt owed to Russia, said the CEO of RAO "UES of Russia".

The Sangtuda HPPs are located about 200 kilometers south of the city of Dushanbe. The construction of Sangtuda HPP-1 started in the late 1980s, but was suspended soon afterwards due to the lack of funds. The completion of Sangtuda HPP-1 and HPP-2 with the capacities of 670 MW and 220 MW, respectively, will ensure electricity supply to Tajikistan and make it possible to export electricity to Iran.

 

 

 

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