International financing agreements for the construction of the Roghun Hydropower Plant (HPP) have now come into effect, according to Tajikistan’s Minister of Energy and Water Resources, Daler Juma. He announced this during a news conference in Dushanbe on January 29.
"To activate the financing agreements signed in 2024-2025, several conditions had to be met, which took some time," the minister explained. He added that by December last year, some of these agreements had been finalized, marking the beginning of funding for the project.
"This will allow us to speed up the implementation process for 2026, aiming to launch the third unit of the power station on schedule," Juma said. Initially, the third unit was planned to be operational by September 2025, but its launch has now been postponed to September 2027.
Currently, the project is being fully funded by internal resources. Earlier, the government of Tajikistan announced that agreements with development partners have secured more than $2 billion for the completion of construction of the Roghun HPP, including grants from the World Bank ($650 million), loans from the Asian Infrastructure Investment Bank ($500 million), the Islamic Development Bank, and Arab funds ($450 million), as well as a grant from the Qatar Fund for Development ($50 million). Negotiations are ongoing for an additional $1.7 billion.
Since 2008, over 48.1 billion somoni (around $4.2 billion) have been spent from the state budget and other sources on financing the Roghun hydropower plant project. An additional $6.4 billion is needed to fully complete the station.
For 2026, the country’s budget allocates around 15 billion somoni (over $1.6 billion) for the fuel and energy complex, with most of these funds directed toward the completion of the Roghun HPP.
The lower house (Majlisi Namoyandagon) of Tajikistan’s parliament recently passed a bill regarding the use of the National Bank of Tajikistan’s reserve fund to finance the Roghun hydropower plant project . The bill allows for the use of 916 million somonis (about $100 million) from the reserve fund, formed from the 2024 financial activities of the National Bank, for this purpose.
As of January 2026, almost 60% of the construction work at the site has been completed. The dam has reached a height of 1,116 meters above sea level, with a total height of 151 meters. Since the commissioning of two units of the Roghun HPP in 2018 and 2019, they have generated 9.9 billion kilowatt-hours of electricity.
About the Roghun hydropower plant
With a capacity of 3,780 MW, the Roghun HPP will be the largest hydropower plant in Central Asia. Once fully operational, it is expected to produce over 14.5 billion kWh of electricity annually. The plant will have six units, each with a capacity of 630 MW. The final unit is expected to be operational in 2029.
Currently, two units of the Roghun HPP are operating at partial capacity and were commissioned in 2018 and 2019.
