HomeInvestment & Trading ›EBRD Supports Kazakhstan to Add 100 MW of RE Capacity

EBRD Supports Kazakhstan to Add 100 MW of RE Capacity

The Bank’s first wind project implemented under Kazakhstan’s renewables auction scheme and the latest project under the EBRD’s Kazakhstan Renewables Framework Programme Phase II will be co-financed by the Asian Infrastructure Investment Bank.

September 02, 2023. By Nivedita Ojha

The European Bank for Reconstruction and Development (EBRD) is supporting Kazakhstan fulfil its target to attain carbon neutrality by 2060 by aiding funds for the development of a new wind power plant in the Zhambyl region of Kazakhstan.

The EBRD’s loan of up to USD 39 million (to be disbursed in both US dollars and Kazakhstan tenge) will be extended to the consortium between the Bank’s long-term clients China Power International Holding (CPIH) and Visor International. It will be used to build, operate and connect the 100 MW Shokpar wind power plant to the transmission grid.

The Bank’s first wind project implemented under Kazakhstan’s renewables auction scheme and the latest project under the EBRD’s Kazakhstan Renewables Framework Programme Phase II will be co-financed by the Asian Infrastructure Investment Bank.

It will be supported by concessional financing of up to USD 10 million from the Green Climate Fund and up to USD 5.7 million from the Clean Technology Fund.

As part of the project, CPIH has committed to implementing an inclusive educational programme in Kazakhstan in partnership with a local college. It will promote access to employment and green skills for women in the country.

Once operational, the Shokpar wind power plant is expected to help reduce annual CO2 emissions by almost 212,000 tonnes.

With over 10 billion Euros invested in the country to date through 304 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.
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