The project will help enhance independence and security of the energy sector in the country. The installed capacity of the power plant is 21.5 MW, which means about 77.7 million kWh additional production of electricity per year. According to 2020 data (import 1.6 billion kWh), the electricity generated by the hydro power plant will be equivalent to ~ 2.1% of the country’s average annual import.
In general, the development of new hydropower resources in the country is critically important for the sustainable development of the country, and therefore for the social welfare.
The implementation of the project will help attract foreign direct investment in the country, create new jobs and mobilize additional funds in the state budget. With this project, the investment of about $ 28.5 million is planned to be made in the renewable energy sector. In addition, indirect positive impact in the form of promoting economic growth and positive impact on the environment should be considered. During the project operation period (25 years), approximately ~ $ 0.28 million in the form of property taxes will be transferred to the local budget annually.
The project will help achieve the UN Sustainable Development Goals including: elimination of poverty, provision of clean energy, decent work and economic growth, industry, innovation and infrastructure, responsible consumption and production, climate action, partnerships to achieve the goal. According to the company, local population will be employed in the works during the construction phase and the operation period of the project which will help improve the local economy and social situation.