Turkish conglomerate Ihlas Holding plans to invest $10 billion in the construction of two major hydroelectric power plants in Kyrgyzstan, the 912 MW Kazarmanskaya plant and the 1,305 MW Kokomeren plant, according to the Kyrgyz Ministry of Energy.

In Bishkek, Energy Minister Taalaibek Ibraev signed a final investment agreement with Central Asian Investment Holding, a subsidiary of Ihlas Holding, for a cascade of hydropower facilities on the Naryn and Kokomeren rivers. The total planned capacity is 2,217 MW.

In addition to building the plants and associated infrastructure, the project will include training engineers to operate the new facilities and supplying the Ministry of Energy with specialized equipment.

Under the agreement, the investor will provide $5 million in sponsorship funding annually from 2025 to 2030. The funds will support orphaned children and social programs in the regions where the hydropower plants will be built.

According to Turkish media, the deal grants Ihlas Holding a 20-year operational right over the stations, with the Kyrgyz government guaranteeing to purchase the electricity produced in foreign currency.

Ahmet Mujahid Eren, Chairman of Ihlas Holding’s Board of Directors, said Turkey faced similar energy challenges in the 1990s.

“At that time, losses exceeded 50 percent. After privatizing distribution networks and modernizing infrastructure, we reduced this figure to a minimum. We want to apply this experience to create not only new energy capacity, but also modern, exemplary infrastructure,” he said.