BAKU, Azerbaijan, Sept. 18
By Nargiz Sadikhova – Trend:
The European Bank for Reconstruction and Development (EBRD) is organizing new financing for the construction of a 76 MW solar plant in Kazakhstan’s Karaganda region with a total installed solar capacity of 216 MW, Trend reports with reference to the EBRD.
The $42.6 million packages provided to the German Joachim Goldbeck Holding GmbH will consist of an EBRD local currency loan of up to $28 million, a concessional loan of up to $11.5 million provided by the Green Climate Fund (GCF), the world’s largest climate fund and a concessional loan of up to $3.1 million provided by the Clean Technology Fund (CTF).
The new solar plant will help reduce annual CO2 emissions by more than 80,000 tons and contribute to meeting Kazakhstan’s national emission reduction targets as well as the EBRD’s Green Economy Transition strategy.
The investment takes place under the Bank’s €500 million Kazakhstan Renewables Framework, established in 2016 and extended in 2019, to help the country respond to the challenges of climate change, increase investments in renewables, provide technical assistance and build institutional capacity.
Previously, the EBRD financed the 100MW Saran solar power plant, which was also developed by the Joachim Goldbeck Holding GmbH, and is the largest solar power plant built at one time in Central Asia.
To date, the EBRD has invested over €8.63 billion through 273 projects in the economy of Kazakhstan.
---
Follow the author on Twitter: @nargiz_sadikh
