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EBRD arranges financing package for 40-MW Kazakh solar project

Solar panels by iamme ubeyou.

June 6 (Renewables Now) - China’s Risen Energy Co Ltd (SHE:300118) has secured a financing package of up to USD 32 million (EUR 27m) for a 40-MWp solar project in Kazakhstan’s Karaganda region.

The European Bank for Reconstruction and Development (EBRD) said today it will provide a local currency loan of up to USD 22 million, while the Clean Technology Fund (CTF) will lend up to USD 5.8 million. In turn, the Green Climate Fund (GCF) will contribute up to USD 4.2 million.

This is EBRD’s first cooperation in the sector and in Kazakhstan with a Chinese company, it said. The project itself is part of a partnership between the bank and the Kazakh ministry of energy that was formed in 2017.

Risen Energy unveiled recently that it had also signed a mandate letter with the EBRD for a 63-MW solar project in Kazakhstan.

(USD 1.0 = EUR 0.849)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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