EBRD and GCF to finance solar power plant in Kazakhstan. Credit: The European Bank for Reconstruction and Development.

The European Bank for Reconstruction and Development (EBRD) and Green Climate Fund (GCF) have agreed to finance a new solarpower plant in Kazakhstan.

As part of this commitment, EBRD will provide a loan of $11.7m, while GCF will arrange a loan of $5m for the new 30MWp solarpower plant.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Located in Zhangiz region, the facility will have the capacity to generate more than 38,900MWp per annum and will help cut carbon emissions by 31,650t a year.

EBRD has signed a financing agreement with the developer of the project China’s Universal Energy at the Second Belt and Road Forum for International Cooperation in Beijing.

The agreement was signed by EBRD Sustainable Infrastructure Group managing director Nandita Parshad and Universal Energy president and CEO Nan Yi.

Universal Energy is involved in the investment, development, construction, operation and maintenance of clean energy projects.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
“The facility will have the capacity to generate more than 38,900MWp per annum and will help cut carbon emissions by 31,650t a year.”

Currently, the company is developing a portfolio of solar projects in Kazakhstan and elsewhere worldwide.

It will be an eighth investment made by EBRD under its Kazakhstan Renewables Framework, which benefits from a $110m contribution from the GCF. The framework is a €200m facility for financing renewable energy projects in Central Asia.

Overall, more than $8.85bn has been invested so far by EBRD through 254 projects in the economy of Kazakhstan.

In January, EBRD agreed to finance the construction of a 50MW solarpower plant in Kazakhstan.

Under the proposed financing package, EBRD will provide a loan of up to $40.4m and a loan of $10m will be offered by the Green Climate Fund (GCF).