BAKU, Azerbaijan, Nov.2
By Nargiz Sadikhova - Trend:
The Eurasian Development Bank (EDB) and Ereymentau Wind Power company signed a 23.2 billion tenge loan (approximately $59.5 million) agreement to finance the construction of a 50 MW wind farm near the town of Ereymentau country’s Akmola region, Trend reports with reference to EDB.
According to the information, the project is of social and economic importance to the region and is expected to improve the financial situation, energy sufficiency, as well as reliability of electric power supplies to Kazakhstan’s central and northern regions. The use of renewable energy has a positive effect on the environment and substitutes generation by thermal power plants.
The 50 MW wind farm near Ereymentau is not the only example of the EDB’s successful cooperation with Samruk-Energy in promoting renewable energy projects. In 2013, the bank financed the construction of a 45 MW wind farm in the same region, which was commissioned in 2015 and is currently in operation.
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states.
Ereymentau Wind Power (EWP) was incorporated on November 24, 2011 as a project vehicle for the mentioned above project.
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