- Press Releases
May 22 (Renewables Now) - The Asian Development Bank (ADB) has extended a USD-4-million (EUR 3.6m) loan to several companies owned by Turkey-based civil works contractor 77 Group to support the construction of a 15.1-MW solar photovoltaic (PV) farm in Afghanistan.
The loan was granted to Barakat Kandahar Solar Energy (BKSE), a special purpose vehicle in which 77 Group owns a majority stake through its Afghan unit. Three subsidiaries of 77 Group are co-borrowers, the ADB said Monday.
The developer will build the solar farm in Kandahar. Once completed, the facility is expected to generate around 27.5 GWh annually, avoiding emissions of 8,500 tonnes of carbon dioxide (CO2).
Afghanistan’s solar generation potential hovers around 220 GW. The country currently has 3 MW of installed solar capacity, according to the ADB.
(USD 1.0 = EUR 0.9)