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to-the-point: Risen Energy arranges funds for 63-MW Kazakh solar project

Representatives from Risen Energy and EBRD signing the mandate letter. Source: Risen Energy Co., Ltd

May 24 (Renewables Now) - China’s Risen Energy Co Ltd (SHE:300118) said today it has secured financing for the construction of a 63-MW solar power plant in Kazakhstan.

The solar modules manufacturer has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) earlier this month. The two parties had signed a mandate letter earlier in 2018 for another Kazakh project, but with a capacity of 40 MW.

Risen Energy expects construction work on the 63-MW facility to begin in September and to be concluded in June 2019. The plant will have the capacity to produce roughly 109,000 MWh of electricity.

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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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