The European Bank for Reconstruction and Development (EBRD) announced funding an amount of $24.8 million to support the development of a wind project in Kazakhstan with a capacity of 100 MW. The project will be developed near the town of Zhanatas in the southern part of Kazakhstan. EBRD’s financing will be under its Kazakhstan Renewables Framework II. Further, the Asian Infrastructure Investment Bank will be providing a $34.3 million loan, the Industrial and Commercial Bank of China lending $13.3 million and the Green Climate Fund will provide a concessional loan of up to $22.9 million
The project work will be undertaken by Zhanatas Wind Power Station, a special project company run and owned by China Power International Holding in partnership with Dutch alternative asset manager Visor Investments Cooperatif. The project company will construct and operate the wind plant while also building a 8.6 km single-circuit line of 110 kV connecting the facility to the national grid.
The wind project is in tandem with the EBRD’s initiative towards a Green Economy Transition. The wind power farm is expected to contribute to meeting Kazakhstan’s renewable energy goals and reduce annual carbon dioxide emissions by approximately 262,000 tonnes. The plant is expected to produce about 319 GWh of electricity annually.