Grant, Credit and Guarantee Agreements Signed to Reduce Electricity Losses in Khatlon

3 months ago tngadmin Comments Off on Grant, Credit and Guarantee Agreements Signed to Reduce Electricity Losses in Khatlon

Yesterday, a grant agreement was signed between Tajikistan, the open joint stock company Electric Distribution Networks, and the European Bank for Reconstruction and Development (EBRD). Likewise a credit agreement was signed between Electric Distribution Networks and the EBRD, as well as a guarantee agreement between Tajikistan and the EBRD on financing the project which aims to reduce electricity losses in Khatlon in the amount of €35 million, including €15 million as a grant from the European Union and a loan of € 20 million from the EBRD.

The agreements were signed by the Minister of Finance Fayziddin Kahhorzoda, head of the EBRD Representative Office in Tajikistan Ayten Rustamova, and General Director of the JSC Electric Distribution Networks Umed Bilolzoda.

The signing ceremony was also attended by the Ambassador of the European Union to Tajikistan Marilyn Josefsson.

The project is being implemented in Kulob and Bokhtar. As part of its implementation, work is underway to introduce a billing system in Kulob and Bokhtar, to repair two existing substations, including the 110/10 kV Bokhtar substation, the Kulob 110/35/10 kV substation, and to build a new substation 110/35/10 kV in Kulob.

The implementation of this project will begin in 2021 and end in 2025.

The goal of the project is to reduce technical and commercial losses of electricity through partial modernization of electrical networks, introduce billing metering systems, and install smart electronic electricity meters.

Source: National information agency of Tajikistan