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Kyrgyzstan

Kyrgyzstan

Kyrgyzstan seeks wind investors

KYRGYZSTAN: The government of Kyrgyzstan plans to encourage development of wind projects by offering tax breaks and other benefits to project investors.

The first projects are expected in the Issyk Kul region of north-eastern Kyrgyzstan
The first projects are expected in the Issyk Kul region of north-eastern Kyrgyzstan

In recent years the central-Asian country, nestled between Kazakhstan and China, has faced a shortage of  energy reserves. As a result, development of renewables, and in particular wind power, has become a priority for the Kyrgyz government.

The government is hoping to attract foreign investors with a range of tax benefits.

According to a recent proposal of the Kyrgyz parliament, wind farms in the country will be exempt from income tax for eight years after a project is commissioned.

The proposed measures also include the exemption from value-added tax for all equipment and components imported into the country.

The new tax proposals have already been supported by the Kyrgyz government and are expected to be approved in the next few weeks.

The first wind power projects are likely to be sited in remote areas of the country, particularly close to Issyk-Kul lake, in north-eastern Kyrgyzstan.

In the initial stage, up to three wind projects are expected to be built in the country, according to the Kyrgyz government's ministry of energy. It did not reveal the planned capacity.

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