Baikonur Solar gets DFI backing

Baikonur Solar – a 100% subsidiary of United Green – has raised a $56 million equivalent facility from the EBRD, Clean Technology Fund and the ADB to finance construction of a 50MW solar project in Kazakhstan. The deal comprises loans of up to $30 million in Kazakh tenge (KZT) equivalent from the EBRD and $8.786 million and €1.312 million from the Clean Technology Fund. The ADB is providing a loan of up to $12 million in KZT equivalent to co-finance the project.