The
European Bank for Reconstruction and Development (EBRD) is supporting French
company Urbasolar SAS in its plans to build a solar power plant in Kazakhstan,
the bank announced Saturday.
The
EBRD will provide a loan in local currency, Kazakh tenge, up to an equivalent
of US$8.8 million, and the Clean Technology Fund will lend up to $3.9 million
for the solar plant in the South Kazakhstan region, near the city of Shymkent.
The
new Zadarya solar power plant will add 14 megawatts (MW) of solar capacity to
Kazakhstan’s energy mix, bringing the total amount of existing and planned
renewable energy to 365 MW.
The
EBRD supports, under project finance structure, all large-scale renewable
energy projects in Kazakhstan.
"The
solar park project will be implemented by a special purpose company, Kaz Green
Tek Solar LLP, incorporated in Kazakhstan and majority owned by
Urbasolar," according to the announcement.
To
date, the EBRD has invested over $8.7 billion in Kazakhstan's economy.
(Anadolu Agency)