EBRD supports Urbasolar in Kazakhstan

photonJanuary 23, 2018228

The European Bank for Reconstruction and Development (EBRD) is supporting French company Urbasolar SAS to build a solar power plant in Kazakhstan in Central Asia. The new »Zadarya« solar power plant will add 14 MW of solar capacity to Kazakhstan’s energy mix, bringing the total amount of existing and planned renewable energy to 365 MW.

The EBRD will provide a $ 8.8 million loan and the Clean Technology Fund will lend up to $ 3.9 million for the solar plant in the South Kazakhstan region, near the city of Shymkent. The solar park project will be implemented by a special purpose company, Kaz Green Tek Solar LLP, incorporated in Kazakhstan and majority owned by Urbasolar.

Urbasolar has been developing, building and operating large capacity photovoltaic power plants since 2006 and has been active in Kazakhstan since 2012, when the company installed a number of rooftop solar panels in Astana.

All large-scale renewable energy projects in Kazakhstan under project finance structure have been supported by the EBRD. The Bank also works closely with the government on green energy laws, regulations and other carbon-reduction programmes. To date, the EBRD has invested over $ 8.7 billion in the economy of Kazakhstan.

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