The European Bank for Reconstruction and Development (EBRD) has provided a loan of $39m (€36.1m) to China Power International Holding (CPIH) to support the construction of a 100MW wind farm to be built in Kazakhstan.
Located in the Sarysu district in the Zhambyl region of the country, the Shokpar wind farm is an extension of the Zhanatas wind farm.
The project will be built on 164 hectares of land and powered by 22 EN-156 turbines from Chinese wind turbine maker Envision.
Power from the wind farm will be transmitted to the Opornaya substation through a 220kV transmission line. Once built, it is expected to help reduce CO₂ emissions by up to 212,000 tonnes annually.
The total projected cost of the wind farm is $135.6m. The financing will support the country in reaching its 2060 carbon neutrality target.
This loan is being extended to CPIH, a joint venture between the co-developers of the project, which owns a 63% stake, and Visor International, a group of Kazakhstani bankers and entrepreneurs that owns the remaining 37% stake.
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The project is being supported by the EBRD under its Kazakhstan Renewables Framework Programme Phase II and co-financed by the Asian Infrastructure Investment Bank.
It is also supported by concessional financing of up to $10m from the Green Climate Fund and $5.7m from the Clean Technology Fund.
The loan will be used for the wind farm’s construction and operation and for connecting it to Kazakhstan’s electricity transmission grid.