EBRD arranges financing of 50MW Baikonur solar power plant

The European Bank for Reconstruction and Development is organising a loan together with the Clean Technology Fund and the Asian Development Bank to fund the construction of a 50MW solar power plant in Baikonur, central Kazakhstan.

The financial package will consist of two senior secured loans of up to $30,000,000 in Kazakh tenge (KZT) equivalent from the EBRD and up to $10,400,000 in US dollar and euro equivalents ($8,786,000 and €1,312,195) from the Clean Technology Fund. The ADB is providing a loan of up to $12,000,000 in KZT equivalent to co-finance the project.