BAKU, Azerbaijan, June 6. The Development Bank of Kazakhstan has signed an agreement to open a credit line with Almaty Power Stations for the modernization of Thermal Power Plant (TPP) No. 2 in Almaty, Trend reports.
The financial resources allocated, along with other creditors such as the Asian Development Bank and the European Bank for Reconstruction and Development, will be used for the project's implementation, which is expected to be completed by the end of 2026.
As a result of the project, the installed electrical capacity at the TPP will increase from 510 MW to 600 MW, while the thermal capacity will reach 957 Gcal.
Additionally, the shift to a more environmentally friendly fuel source, natural gas instead of coal, will reduce the station's negative impact on the environment. Emissions of sulfur dioxide and ash into the atmosphere will be completely eliminated, while carbon dioxide emissions will be reduced by one and a half times.
Marat Yelibayev, Deputy Chairman of the Management Board of the bank highlights two reasons for the bank to join this project.
"Firstly, there is co-financing with the participation of international financial institutions. Secondly, the project aligns with ESG principles by reducing the impact of the thermal power plant on the environment and enhancing the reliability of energy supply to the Almaty agglomeration. The environmental agenda of this project was of great importance in our decision to provide financing," he said.
