News
30 August 2018
EBRD and ADB to finance 100MW PV project in Kazakhstan
In:
Renewable energy
Region:
Asia-Pacific
The European Bank for Reconstruction and Development (EBRD) has agreed a $58.5 million loan for the construction of a 100MW PV project in the Zhambyl region of Southern Kazakhstan.
The Asian Development Bank will provide the remaining portion of debt in Kazakhstani tenge equivalent to co-finance the project. The project, which will have an estimated total construction cost of $132.2 million, will help cut down dependence on electricity imports from other regions of Kazakhstan, especially coal-fired plants in Northern Kazakhstan.
Once operational, the installation is expected to generate carbon savings estimated at around 125,000 tonnes of CO2 for Kazakhstan.
