Kazakh Development Bank funds wind power station construction
Baku, Azerbaijan, Jan. 23
By Ali Mustafayev – Trend:
Development Bank of Kazakhstan (subsidiary of National holding "Baiterek") has began to fund CATEC Green Energy LLP, to build the wind power plant (WPP) with a starting capacity of 50 MWt, the press service of the bank said in a message.
The WPP is located 40 km away from Astana: in Kostomar village of the country’s Akmola region. After commissioning of the second stage the total capacity of the WPP will reach 100 MWt.
The project costs 46.1 billion tenge. The Development Bank of Kazakhstan provides a 30.5 billion tenge loan for 10.5 years. The project also involves a DBK's subsidiary – DBK-Leasing, providing 3.6 billion tenge for equipment leasing. The borrower's own funds in the project - 12 billion tenge.
"The environmental aspect is an important component of the project. The commissioning of this wind farm will reduce greenhouse gas emissions by 230,000 tons per year, which equals the emissions of more than 113,000 cars per year. We will use a complex of new developments and technologies for wind energy conversion adapted to the climatic conditions of the region," said Ajhan Bitebaeva, senior banker of the DBK Directorate for Client Relations.
After completion of the construction, the wind station is expected to meet the needs of more than 10,000 families through renewable energy sources, thereby reducing the use of fossil fuels.