ASTANA, Kazakhstan, December 19. The European Bank for Reconstruction and Development (EBRD) will provide a senior secured loan of up to $22 million equivalent (in USD and KZT) to Energo Trust LLP, a SPV incorporated in Kazakhstan, for the development, construction, and operation of a wind power plant with an installed capacity of 50 MW in the Arshaly district of Akmola region, Kazakhstan, Trend reports.
The bank's loan will be utilized to cover the historical project costs.
As the EBRD noted, the project will support Kazakhstan in its objective to increase the share of renewable energy in the energy mix, contribute to reducing Kazakhstan's carbon intensity, and address the country's increasing electricity demand.
The project is expected to be co-financed with other financial institutions in amounts of up to US$ 22 million.
Meanwhile, the EBRD's current project portfolio in Kazakhstan reaches 2.8 billion euros as of October 31, 2023, based on the implementation of 114 active portfolio projects.
Investments in sustainable infrastructure projects account for 70 percent of the overall portfolio (1.97 billion euros). The industry, commerce, and agribusiness sectors also benefit significantly from EBRD's investments, with projects worth approximately 689 million euros making up around 24 percent of the portfolio.
Furthermore, the EBRD's support for the financial sector of Kazakhstan, with investments in financial institutions comprising 5 percent of the portfolio, amounts to 148 million euros.