A group of financial institutions including the European Bank for Reconstruction and Development (EBRD) are providing over $95m for a 100MW wind farm in Kazakhstan.
EBRD will deliver funding of $24.8m under the Bank’s Kazakhstan Renewables Framework 2 for the project near the town of Zhanatas in the south of the country.
The money will be complemented by loans of $34.3m from the Asian Infrastructure Investment Bank, $13.3m from the Industrial and Commercial Bank of China and a concessional loan of up to $22.9m from the Green Climate Fund.
The Zhanatas wind farm is a special project company run and owned by China Power International Holding in partnership with Visor Investments Cooperatief to construct and operate the project, as well as to build an 8.6km 110kV single-circuit line connecting the facility to the national grid.
The plant will help reduce annual CO2 emissions by approximately 262,000 tonnes.
The project is also in line with the EBRD’s Green Economy Transition approach, the bank said.