By supporting the construction of a 100 MW wind farm near the town of Zhanatas in the south of the country, the European Bank for Reconstruction and Development (EBRD) and its partners are encouraging Kazakhstan’s further transition from coal-fired power plants to renewable energy power generation.
Funding of up to $24.8 million (KZT equivalent) by the EBRD is the latest transaction under the Kazakhstan Renewables Framework II of the Bank. It will be complemented by a loan of $34.3 million from the Asian Infrastructure Investment Bank (AIIB), a loan of $13.3 million from the Industrial and Commercial Bank of China and a concessional loan of up to $22.9 million from the Green Climate Fund (GCF).
The funds will be used by Zhanatas Wind-Power Station, a special project company owned and controlled by China Power International Holding (CPIH) in collaboration with Visor Investments Coöperatief, to build and operate the wind farm and to build a single-circuit 8.6-kilometre 110 kV line connecting the plant to the national grid.
The new wind power plant will help reduce annual CO2 emissions by approximately 262,000 tonnes and help to achieve Kazakhstan’s target of becoming a pioneer in Central Asian renewable energy growth by dramatically reducing national emissions.
The project is also aligned with the Green Economy Transition strategy of the EBRD.
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