EBRD, partners back 76-MWp solar plant in Kazakhstan

The European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF) and the Climate Investment Fund (CIF) are providing USD 42.6 million (EUR 35.9m) in financing for a 76-MWp solar project in Kazakhstan.

Extended to German developer Joachim Goldbeck Holding GmbH, the pachage consists of an up to USD-28-million local currency loan from EBRD, a concessional loan of close to USD 11.5 million from the Green Climate Fund (GCF) and another concessional loan of USD 3.1 million from the CIF’s Clean Technology Fund (CTF).

Located in Karaganda region, the new photovoltaic (PV) power plant will have almost one-third of its installed capacity employing bifacial solar modules. When completed, the asset will be able to offset some 80,000 tonnes of carbon dioxide (CO2) emissions annually.

This new PV plant will also be among the first in Kazakhstan to be completed under an auction scheme, the European bank said.

(USD 1 = EUR 0.845)

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