EBRD May Extend $ 35.3 mn Loan for 30 MW Solar Park in Kazakhstan

The construction of the PV Park is seen to help offset around 49,000 tons of carbon dioxide (CO2) emissions and lower reliance on power imports and related transmission losses.

The European Bank for Reconstruction and Development (EBRD) is thinking to grant a loan of USD 35.3 million for 30 MW solar parks in Kazakhstan.

Subsidy of the French renewables developer ‘Total Eren and Access Infra Central Asia’, Nomad Solar group would be the beneficiary of the loan amount and project developer.

According to a Project Summary Document (PSD) published on EBRD’s website on Wednesday, the bank is reviewing whether to provide a senior loan of KZT 12.8 billion (USD 35.4m/EUR 31.2m) for the specific project. The overall investment in the initiative is estimated at KZT 17.1 billion.

The EBRD noted that the solar project will “demonstrate the viability of project finance structures that are still scarce in the Kazakh market.” It is the first involvement of Total Eren and Access Infra in Kazakhstan and is seen to promote foreign investment in the country’s renewables market.

Moreover, the construction of the PV Park is seen to help offset around 49,000 tons of carbon dioxide (CO2) emissions and lower reliance on power imports and related transmission losses.

The European Bank for Reconstruction and Development (EBRD) helps businesses and economies thrive. Through its financial investment, business services and involvement in high-level policy reform, it is well placed to promote entrepreneurship and change lives.