EIB considering cross-border energy projects in Central Asia with potential for exports to Europe via Azerbaijan

The European Investment Bank (EIB) intends to finance the construction of the Kambarata-1 hydroelectric power plant in Kyrgyzstan, whose electricity could in the future be supplied to Europe via Kazakhstan, the Caspian Sea, and Azerbaijan, Report informs citing an interview by EIB Vice-President Marek Mora with Euronews in Astana.

"We have heard some ideas about an electrical interconnector between Kazakhstan and Azerbaijan across the Caspian Sea, which could then continue to Europe," Mora said.

The Kambarata-1 hydropower plant is being built as part of a joint project among Kyrgyzstan, Kazakhstan, and Uzbekistan. According to Mora, the EIB allocated €900 million to the three countries for projects in water resource management and energy grid construction.

The plant is expected to be commissioned around 2035 and will be able to generate 5.6 billion kWh of electricity per year. The project is designed to strengthen Central Asia's energy security.