Ebrd to Finance New 50mw Solar Power Plant in South of Kazakhstan

AKIPRESS.COM - The European Bank for Reconstruction and Development (EBRD) will issue US$ 40.4 million loan in tenge for the construction of a new 50MW solar power plant in the south of Kazakhstan.

Additionally, a loan of up to US$ 10 million will be allocated from the Green Climate Fund (GCF), EBRD said. The new plant, which will be located in Chulakkurgan, south Kazakhstan, will generate over 102 GWh of electricity per year and will help reduce CO2 emission by 86,000 tons per year.

The EBRD has again teamed up for this investment with Risen Energy, China's leading solar modules producer and project developer. It is the EBRD's second project with Risen after the two organisations worked together to deliver a 40MW solar plant in the Karaganda region of the country.

The latest project is the eighth to be signed under the Bank's Kazakhstan Renewables Framework, a euro200 million facility for financing renewable energy projects in Central Asia, which...