DUSHANBE, January 23, 2014, Asia-Plus — Open Joint-Stock Company (OJSC) Sangtudinskaya GES-1, which operates the Sangtuda-1 hydroelectric power plant (HPP), notes that the Sangtuda-1 HPP generated more than 2 billion kWh of electricity last year, which was 7 percent more than in 2012.
However, the situation with Barqi Tojik’s payment for electricity generated by the Sangtuda-1 HPP remains complex.
Since January 20, 2008, when the first unit of the Sangtuda-1 HPP was introduced into operation, the station has delivered more than 10.4 billion kWh of electricity worth more than 952.3 million somoni to Barqi Tojik (the state-owned utility responsible for generation, transmission, and distribution of electricity in Tajikistan). To-date, Tajik power holding has reportedly repaid only 55 percent of that amount.
A statement released by OJSC Sangtudinskaya GES-1 says that as of January 1, 2014, Barqi Tojik owed more than 427 million somoni (equivalent to some 90 million USD) to OJSC Sangtudinskaya GES-1.
OJSC Sangtudinskaya GES-1 top manager Dmitry Volkov stresses that the company’s tax debts have increased due to non-payment or irregular payment for electricity delivered to the Tajik power holding.
The Tax Committee under the Government of Tajikistan and OJSC Sangtudinskaya GES-1 signed a tax debt repayment agreement here on December 19, 2013. According a joint press release issued by OJSC Sangtudinskaya GES-1 and Tajikistan’s Tax Committee, repayment of the tax debts will be carried out in accordance with the schedule coordinated by both sides. Under this agreement, the Tax Committee has suspended measures of forced recovery of tax debts from Sangtudinskaya GES-1.
As of December 1, 2013, the OJSC Sangtudinskaya GES-1 tax debts reportedly amounted to 52 million somoni.
Russian-Tajik OJSC Sangtudinskaya GES-1 was established to complete the construction of the Santuda-1 power plant. Russia’s Inter RAO YeES and the Ministry of Energy and Industries of Tajikistan signed an agreement on the establishment of the company in Dushanbe on February 16, 2005.
Russia owns 75% percent of the shares minus one share and Tajikistan assumes the 25% ownership interest plus one share in Sangtudinskaya GES-1.
