EBRD earmarks EUR 200 million for renewables in Kazakhstan

The EBRD has already financed the Burnoye solar PV project in Kazakhstan
The EBRD has already financed the Burnoye solar PV project in Kazakhstan

As Kazakhstan prepares to celebrate the 25th anniversary of its independence, the European Bank for Reconstruction and Development (EBRD) is boosting its support for renewable energy, which will increasingly power its future. 

The EBRD Board of Directors has approved a financing framework of up to EUR 200 million. This will be used to finance primarily private renewable energy projects with a total generating capacity of 300 MW within the next five years.

Such projects can be in wind or solar power, small hydro plants or biogas. The construction of generating capacity will be allocated  EUR 160 million, while EUR 40 million will be allotted to electricity grid modernisation, which is necessary in order to integrate these renewable projects into the national transmission system.

The EBRD has already financed renewable energy projects in Kazakhstan, including Burnoye Solar and the Yereymentau wind farm. The Bank will work with foreign and domestic developers of renewables in Kazakhstan.

“The Bank is highly committed to its Green Economy Transition approach in general, and to supporting Kazakhstan’s national strategy of green economy in particular,” comments Aida Sitdikova, EBRD Director for Energy and Natural Resources in Russia, Caucasus and Central Asia.

 

2016-12-19 | Courtesy: EBRD | solarserver.com © Heindl Server GmbH

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