Barqi Tojik

Stock performance

History

Barqi Tojik is the state-owned, vertically integrated electricity company of Tajikistan, inheriting the Soviet-built power system, including the Nurek dam on the Vakhsh River, whose 3-gigawatt plant produces the majority of the country's electricity. The sector has been restructured with international support, and the giant Rogun dam upstream of Nurek has been under construction for years.

Business model

Barqi Tojik generates electricity almost entirely from hydropower, transmits and distributes it nationwide, and exports surplus summer power to neighboring countries, including Afghanistan and Uzbekistan, with the CASA-1000 project designed to extend exports to Pakistan.

Market position

Barqi Tojik is Tajikistan's national power utility, in a country where hydropower supplies almost all electricity.

Country impact

Tajikistan's hydropower potential is one of its main economic assets, but low river flows and high demand in winter regularly force power rationing, and Barqi Tojik's heavy debts and low tariffs have required repeated restructuring.