The European Bank for Reconstruction and Development (EBRD) and its partners are providing a loan of $95.3m for the construction of a 100MW wind farm near Zhanatas town in Kazakhstan.
The EBRD’s loan of up to $24.8m is the latest transaction under its Kazakhstan Renewables Framework II.
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The financing from EBRD will be complemented by a $34.3m loan from the Asian Infrastructure Investment Bank (AIIB); $13.3m loan from the Industrial and Commercial Bank of China (ICBC); and a concessional loan of up to $ 22.9m from the Green Climate Fund (GCF).
Zhanatas Wind-Power Station is a special project company operated and owned by China Power International Holding (CPIH) in partnership with Visor Investments Coöperatief.
The loan amount will be used by Zhanatas Wind-Power to construct and operate the wind farm
Zhanatas Wind-Power Station will also develop a 8.6km 110kV single-circuit line linking the facility to the national grid.
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The power plant is expected to help to cut down CO2 emission by 262,000 tonnes every year.
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By GlobalDataThis project will help Kazakhstan in the development of renewable energy. It is also aligned with EBRD’s Green Economy Transition approach.
So far, EBRD invested over €8.63bn through 273 projects in Kazakhstan.
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The wind project is expected to help in the reduction of annual CO2 emissions by 262,000 tonnes. (Credit: European Bank for Reconstruction and Development.)
