BISHKEK, March 27. /TASS/. Russia and Kyrgyzstan have signed an agreement on cooperation in the area of hydropower industry worth $1.5 bln, a source in the Kyrgyz Economy Ministry’s press service told TASS on Wednesday.

"The Investment Promotion and Protection Agency and Russia’s Ruselprom have signed a memorandum on cooperation worth $1.5 bln," the source said.

"The agreement stipulates the participation of the Russian side in equipping the republic’s territory with new small hydropower plants and operating big hydropower plants," he said, adding that the document was signed at the eighth Kyrgyz-Russian Inter-Regional Conference in Bishkek.

Russian and Kyrgyz companies also signed several contracts during the conference in Bishkek worth more than $1.4 bln.