BAKU, Azerbaijan, October 2. The construction of a wind power plant in the Zhambyl region of Kazakhstan, with financing from the European Bank for Reconstruction and Development (EBRD), will be completed by the end of 2023, a source at the EBRD told Trend.
A wind power plant with a capacity of 100 megawatts is being built in the Sarysu district of the Zhambyl region. The construction of the facility is 75 percent complete. The cost of the Kazakh-Chinese project is more than 60 billion tenge (about $125 million). Permanent jobs will be provided for 20 people.
For the construction of this facility, the EBRD provided a loan to a joint venture between China Power International Holding (CPIH) and Kazakhstan's Visor International. The loan amount was up to $39 million (payment is made in both USD and Kazakh tenge).
The money is allocated for the construction, operation and connection to the power grid of the 100 MW Shokpar WPP. Shokpar wind power plant is slated to help reduce annual CO2 emissions by almost 212,000 tons once commissioned.
Speaking about the EBRD's investments in renewable energy projects in Kazakhstan, the source noted that to date, the bank has financed 15 renewable energy projects in the country.
"The total volume of EBRD investments in renewable energy projects in Kazakhstan exceeds $500 million," he added.
The EBRD hopes to help Kazakhstan achieve carbon neutrality by 2060.
With over 10 billion euro invested in the country to date across over 300 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.