May 17 (Renewables Now) - Finnish consulting and engineering firm Poyry Plc (HEL:POY1V) said Wednesday it had been awarded a lender’s engineering services contract for the 30-MWp Zhangiz solar photovoltaic (PV) farm in Kazakhstan.
The assignment was given to Poyry by the European Bank for Reconstruction and Development (EBRD), which is the project’s co-financier.
The contract encompasses complete technical due diligence, including Poyry’s advisory services during financing negotiations up to the signing of the loan agreement and the financial close. Poyry is also in charge of monitoring the construction and will follow up on the performance of the solar farm for two years after the commercial operation date.
Last month, the Zhangiz project developer, China’s Universal Energy Co Ltd, obtained USD 16.7 million (EUR 14.9m) in financing from the EBRD and the Green Climate Fund (GCF). The construction of the solar farm is already underway with its commissioning scheduled for the end of June.
(USD 1.0 = EUR 0.89)