EBRD, GCF, CTF provide $42.6m for solar plant in Kazakhstan
The European Bank for Reconstruction and Development is organising a new financing for the construction of a 76MWp solar plant in the Karaganda region of Kazakhstan with a total installed solar capacity of 216MWp.
The $42.6 million package provided to German developer Joachim Goldbeck Holding will consist of an EBRD local currency loan of up to $28 million (Kazakh tenge equivalent), a concessional loan of up to $11.5 million provided by the Green Climate Fund, and a concessional loan of up to $3.1 million provided by the Clean Technology Fund.
Up to one-third of the plant’s installed capacity, will employ bifacial solar modules able to produce solar power from both sides of the panel and will be among the first completed renewable energy source projects in Kazakhstan under an auction scheme, a system supported by the EBRD to promote competitive pricing and stimulate investments into renewables.
