AIIB inks debt funding deal for 100-MW Kazakh wind project

The Asian Infrastructure Investment Bank (AIIB) today said it has sealed a USD-36-million (EUR 33.7m) financing deal backing the installation of a 100-MW wind farm in Kazakhstan’s southern region of Zhambyl.

The funding is earmarked for the Shokpar project being executed by a joint venture between China Power International Holding and Visor International, an investment firm established by a group of Kazakh investment bankers. The project owners will use the fresh capital to support the power plant’s development, construction, grid-connection and operation.

Apart from AIIB’s support, the wind project will receive financing from the European Bank for Reconstruction and Development (EBRD), with up to USD 10 million in concessional financing to be provided by the Green Climate Fund and up to USD 5.7 million will come from the Clean Technology Fund.

Once up and running, the Shokpar park in the Sarysu district of Zhambyl will generate electricity that will help offset more than 200,000 tonnes of carbon dioxide (CO2) emissions annually.

According to the project’s website, the wind park is currently under construction and should go online in the first quarter of 2024. Its operation will back Kazakhstan’s goal for net-zero greenhouse gas emissions by 2060.

(USD 1.0 = EUR 0.935)

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