Europe Backs Kazakh Clean Power
EBRD approves €200m for new renewables projects totalling 300MW
The European Bank for Reconstruction and Development (EBRD) has approved a financing framework of up to €200m primarily for private renewable energy projects totalling 300MW in Kazakhstan.
The finance will cover wind, solar, small hydro, biogas plants and grid improvements over the next five years.
Some €160m will go to finance new capacity, while €40m will be allotted to electricity grid modernisation, EBRD said.
The bank said that co-financing for the same projects will be considered by the Clean Technology Fund, the Green Climate Fund and other international financial institutions and commercial financiers.
The EBRD has already financed renewable energy projects in Kazakhstan, including the Burnoye solar plant and the Yereymentau wind farm.