EBRD and partners provide loan to build 100MW wind power plant in Kazakhstan

WCN Editorial Team 27 Oct 2020 ASIA ENERGY & UTILITIES

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.

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.

The power plant is expected to help to cut down CO2 emission by 262,000 tonnes every year.

This 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.)

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