Orta Asya Yatırım Holding, a subsidiary of Turkish conglomerate Ihlas Holding, has signed two separate investment agreements worth nearly $6.3 billion with the government of Kyrgyzstan.
The agreements cover the development of six hydroelectric power plants with a combined installed capacity of approximately 2,217 megawatts (MW), according to a statement from the holding on Monday, News.Az reports citing Turkish media.
The company cited its long-term growth strategies for energy investments in the Central Asian region, adding that the investments are considered "National Investment Projects" by Kyrgyzstan and include various incentives and guarantees.
In a statement published on the Public Disclosure Platform (KAP), Ihlas Holding also detailed the scope of both projects, recalling that a framework agreement had been previously signed between its subsidiary and the Kyrgyz energy ministry on Nov. 5, 2024. for "Kazarman Hydroelectric Projects." It said that it covers the project design, financing, construction, and operation for 20 years of the three hydro plants.
The second project, called "Kokomeren Hydroelectric Projects," similarly covers the construction and operation of three plants over the same period.
The total projected investment for both projects is approximately $6.265 billion, the company said. The final investment size will be determined following ongoing feasibility and technical studies, it added.
"Our subsidiary is committed to allocating 1% of the electricity generated free of charge to local governments in the regions where the power plants are located and to participating in social projects," it also said.
"These projects are structured as two distinct hydroelectric power plant groups located on two separate rivers and basins. This geographical and hydrological diversity aims to support operational sustainability. These investments are aligned with our subsidiary's goal of increasing energy production capacity in the Central Asian region. They are strategically important within the scope of our strategies to diversify and expand our energy portfolio regionally and globally."
Ihlas Holding, one of the major groups in Türkiye, operates in a range of fields, including media, energy, construction, marketing, education, and health care.
