The Asian Infrastructure Investment Bank (AIIB) approved two loans and one equity investment worth US$324m in order to support projects in India, Tajikistan and Georgia.
US$60m will be allocated to Tajikistan Nurek Hydropower Rehabilitation Project Phase I, which aims to restore the generating capacity of the Nurek hydropower plant.
The Nurek dam is a seasonal reservoir with an installed capacity of 3 GW. It provides 70% of the domestic annual energy requirement and is the nodal balancing plant within the electricity grid. As of today, only 77% of its capacity is operational and this percentage is expected to drop. The first generator was commissioned back in 1972.
According to the World Bank, which also supports the project, about 60% of Tajikistan's hydro capacity needs to be restored by 2020 and 80% by 2030. Without adequate overhaul, the domestic hydro capacity could fall from 2.3 GW down to 760 MW by 2030. Tajikistan currently faces significant electricity shortages in winter and needs to restore this capacity.
The rehabilitation works are expected to begin at the end of 2017 and to be completed in 2023. The Nurek Hydropower Rehabilitation Project Phase II is expected to begin in 2019.
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