BAKU, Azerbaijan, October 1. A solar power plant park has been launched in Kazakhstan’s Kyzylorda Region, with the Development Bank of Kazakhstan JSC (DBK), a subsidiary of Baiterek Holding, providing financing for the project, according the bank's statement today.
Representatives of DBK attended the official opening ceremony of the solar power plant park.
According to the company, to implement the project, DBK provided VIGOR Holding LLP with 104 million Chinese yuan (about $14.6 million) in financing under a Credit Line Agreement. The funds were used for construction and installation works, as well as the purchase and installation of equipment.
“With the Bank’s support, 70 MW of new solar generation capacity will be created, with planned annual electricity generation of 115.5 million kWh. The facility will be commissioned in stages. The Shieli-1 SPP project includes the 20 MW plant opened today. The project also envisages the development of the 20 MW Shieli-2 SPP, equipped with an electricity storage system (ESS), and the 30 MW Zhanakorgan SPP,” DBK said.
According to the company, the use of ESS technology will make it possible to store part of the electricity during periods of high generation and feed the stored energy into the grid. This will help ensure a more consistent power output profile, reduce peak loads on the electricity grid and improve the operational stability of the facility.
Financing renewable energy projects is one of DBK’s priority areas, in line with the global and national agenda on decarbonization, sustainable development and Kazakhstan’s transition to carbon neutrality.
Over the past 25 years, DBK has financed 218 investment projects and 151 export operations worth a total of 19 trillion tenge (about $43 billion). This has resulted in the launch of 151 new enterprises across Kazakhstan and the creation of more than 38,000 jobs. In 2025 alone, the bank provided financing for 77 projects worth 2.3 trillion tenge (about $5.2 billion).
The conversions were made at the exchange rate of $1 = 440.86 tenge, $1 = 6.72 CNY
