More details on Zhanatas wind DFI-backed loan

By Max Thompson

In:

Renewable energy

Region:

Asia-Pacific

Sponsors of the 100MW Zhanatas onshore wind farm in Kazakhstan – China Power International Holding (80%) and Visor Investments Cooperative (20%) – closed the funds backing the scheme on 26 October.

Structured via SPV Zhanatas Wind-Power Station, the greenfield project has an estimated total cost of $140 million. Shanghai-headquartered Envision Energy will supply 40x 2.5MW turbines. Sinohydro is EPC contractor. Construction began in July 2019, with commercial operation initially scheduled for year-end 2020.

Financed on a debt-to-equity ratio of 68/32, the debt will be provided by the EBRD - $24.8 million (in Tenge equivalent), signed August 2020; AIIB - $34.3 million, approved December 2019; ICBC - $13.3 million; and Green Climate Fund via a $22.9 million concessional loan. Grata International is providing sponsors’ legal counsel ,while EcoSocio Analysts will act on environmental and social matters.

CAF pushes the MDB hybrid envelope – but will others follow?

Perspective

20 June 2025

CAF pushes the MDB hybrid envelope – but will others follow?

Latin American's CAF made headlines with its $500 million perpetual non-call 5.5-year hybrid this month. The entry of hybrid capital is the latest in a line of innovations...

Riding the gusts: Poland progresses offshore wind ambitions

Perspective

24 June 2025

Riding the gusts: Poland progresses offshore wind ambitions

Equinor and Polenergia have closed a landmark project financing for Baltyk 2&3 amid a flurry of activity in the offshore wind sector. Poland has big ambitions to establish a...

Must See

20 minutes with: Faruq Muhammad, Standard Chartered

Video

06 May 2025

20 minutes with: Faruq Muhammad, Standard Chartered

Uxolo speaks with Faruq Muhammad, Global Head, Development & Agency Finance at Standard Chartered Bank, guiding listeners through candid conversations on the bank’s role in global development finance, highlighting both challenges and opportunities across emerging markets. Faruq raises several thought-provoking topics that reveal how Standard Chartered operates at the intersection of commercial banking and development impact.

Perspective

20 June 2025

CAF pushes the MDB hybrid envelope – but will others follow?

Latin American's CAF made headlines with its $500 million perpetual non-call 5.5-year hybrid this month. The entry of hybrid capital is the latest in a line of innovations vying to redefine the MDB toolkit. But can others stretch their balance sheet without compromising the low-cost funding their clients rely on?

Perspective

24 June 2025

Riding the gusts: Poland progresses offshore wind ambitions

Equinor and Polenergia have closed a landmark project financing for Baltyk 2&3 amid a flurry of activity in the offshore wind sector. Poland has big ambitions to establish a major energy portfolio in the Baltic Sea, and soaring input costs have not seriously undermined deal flow in an industry that has become a go-to for ECA activity.