EBRD, lender group to co-finance 100-MW wind project in Kazakhstan

Wind turbines at work. Author: Nick Cross. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

October 26 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) said it is providing a USD-24.8-million (EUR 21m) to support the construction of a 100-MW wind farm project in Kazakhstan.

To the EBRD’s financing, the Asian Infrastructure Investment Bank (AIIB) is adding a USD-34.3-million loan, with the Industrial and Commercial Bank of China providing USD 13.3 million and the Green Climate Fund (CFG) contributing with a concessional loan of up to USD 22.9 million.

The project is promoted by Zhanatas Wind Power Station, a special project company run and owned by China Power International Holding in partnership with Dutch alternative asset manager Visor Investments Cooperatif.

The wind farm will be built near the town of Zhanatas in southern Kazakhstan. As part of the project, the promoter will also build a 8.6-kilometre (5.3 miles) 100-kV single-circuit line connecting the wind farm to the national grid.

(USD 1.0 = EUR 0.846)

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