EBRD, GCF boost Kazakh green power generation

The EBRD is teaming up with a new investor in Kazakhstan's renewable energy sector, Joachim Goldbeck Holding GmbH, to construct a new 100MW solar plant in the Karaganda region of Kazakhstan, a regional leader in solar power generation. Loan and project support agreements were signed today in Astana for the largest solar power plant built at one time in Central Asia, ebrd.com reports. 

Егемен Қазақстан
29.11.2018 626

The financing package arranged by the EBRD includes a local-currency loan of the equivalent of up to US$ 51.3 million, as well as a loan of up to US$ 22.2 million from the Green Climate Fund (GCF). The project will help to develop the country's potential in renewables and strengthen the private sector's involvement in the power and energy sector, historically dominated by state entities.

The solar park project will be implemented by SES Saran LLP, a special-purpose company incorporated in Kazakhstan and ultimately owned by the German group Joachim Goldbeck Holding GmbH, which is now developing a portfolio of solar projects worldwide.

 The new solar plant will help reduce CO2 emissions by 93,500 tonnes per year and contribute to Kazakhstan's national emission reduction targets as well as the EBRD's Green Economy Transition strategy.

The project is part of the EBRD-GCF Kazakhstan Renewables Framework designed to increase investments in renewables, provide technical assistance and build institutional capacity for energy integration, renewable energy, carbon market policies and planning, with a total GCF contribution of US$ 110 million.

The project expands cooperation between EBRD and the Ministry of Energy of the Republic of Kazakhstanon developing renewable energy and Kazakh emissions trading scheme (ETS) in the country in line with a Memorandum of Understanding signed in 2017.

The EBRD has committed €26.7 billion Green Economy Transition since 2006, with 6.3 billion invested in renewable energy, both directly and through credit lines, and over 10,000 MW of total renewable capacity installed.

To date, the EBRD has invested over €7.5 billion through 246 projects in the economy of Kazakhstan. Private sector support and diversification are among the Bank's priorities in the country.

LATEST

19.03.2019

Qasym-Jomart Toqayev to serve as interim President

19.03.2019

Kazakh President decided to resign

19.03.2019

Kazakh President to address people of Kazakhstan

19.03.2019

The Portuguese edition of the «Era of Independence» presented in Brasilia

19.03.2019

Askar Mamin instructs to create effective system for regulating social and labor relations

19.03.2019

The new project Piccolo Theatre or Little Theatre will be presented

19.03.2019

Salary increase and conflict resolution: Government considers issues of improving labor conditions

19.03.2019

Askar Mamin: Distribution of flats to large families in need will start from May 1

19.03.2019

Azerbaijan to improve performance on oil production cuts under OPEC+

19.03.2019

Davide Ballerini has impressive day in Tirreno-Adriatico Stage 6

19.03.2019

Kazakh President visits new building of Spiritual Administration of Kazakhstan Muslims

19.03.2019

Government reviews implementation of Nurly Zher and 7-20-25 programs: 118 thousand houses to be built

19.03.2019

Zhenis Kassymbek holds a meeting on preparation for flood period

18.03.2019

Yermek Alpyssov appointed vice minister of national economy

18.03.2019

Yermek Alpyssov appointed vice minister of national economy

18.03.2019

Nursultan Nazarbayev signs a decree on awarding highest military and special ranks

18.03.2019

New Prosecutor General of Kazakhstan appointed

18.03.2019

President of Kazakhstan makes personnel changes

18.03.2019

Jakob Fuglsang and Ion Izagirre take stage wins in Tirreno-Adriatico and Paris-Nice

18.03.2019

The Head of State signs a number of laws

COLUMNISTS

Aliya Ashim, Journalist

Brazil’s version of Trump: why is it a «wake-up call» for the world?

<p style="text-align: justify;">A racist, a homophobe, a misogynist, a pro-torturer. Because of the profane outbursts and verbal abuse, he has earned such an image and was even considered as a political clown. Once he insulted lawmaker claiming that she was too ugly to be worth of raping. What is more, he said that he’d rather have a dead son than a gay one. Therefore, analysts concluded that Brazil has elected the most extremist president among democratic countries. So why did Brazil decide to make «really radical shift»? How did such an «extreme» and «unpleasant» figure become a president?<br /> </p>

Jylkybay Jagyparuly,

Mechanical engineering is a potential pillar of the economy

In industrialized countries, one of the most important indicators of the economy is the level of development of the machine-building industry. Independent Kazakhstan, striving to achieve ambitious goals, is making great efforts to develop machine building in the process of diversifying its economy.

Alisultan Kulanbay,

June 4 - Day of State Symbols of Kazakhstan

State symbols - the State Flag, State Anthem and State Emblem demonstrate to the world the independence of the Republic of Kazakhstan, also continuity between the past, the present and the future of the state.

Ainash ESALI,

Is it all good that they advertise?

Advertising is the driving force of production and business. This is an indisputable fact.

Nazira RAKHMANKYZY, Film critic

Splash of commercial films in Kazakhstan

Last year, the number of feature films which filmed reached thirty-six in Kazakhstan. We should say that it is an unprecedented figure in the history of Kazakh cinema in the last quarter century.

Comments(0)

ADD A COMMENT