EBRD to Fund 30 MW Solar Project in Kazakhstan. The Kazakhstan’s 30MW solar project to be constructed in the Kyzylorda region of Southern Kazakhstan involving an investment of KZT17.1 billion (US$47.3 million), the European Bank for Reconstruction and Development (EBRD) is considering to provide loan of EUR 31 million (USD 35.3m) for the project.
The Solar project will help to reduce the southern region’s dependence on electricity import from elsewhere – particularly coal-fired power plants in the North – and reduce associated transmission losses. EBRD to Fund 30 MW Solar Project in Kazakhstan.
The plant will have 120,862 Canadian Solar multicrystalline modules with dual-axis trackers. They will be connected to 12 Sungrow SG2500 HV-MV (1.5kV) inverters. The main HV substation with one 220/34.5kV transformer will be connected to the 220kV national network powerline with a 500m long line.
Around 150-200 staff will be onsite for the plant’s construction.
Nomad Solar LLP, a Kazakh based company owned by French renewable developer Total Eren and Access Infra Central Asia Ltd., a special purpose entity, has been established to implement the project.
The project will be part of the Kazakhstan Renewables Framework, for which the Green Climate Fund (GCF) approved the allocation of up to US$110 million in October 2017.
The EBRD noted that the solar project will demonstrate the viability of project finance structures that are still scarce in the Kazakh market. It is the first involvement of Total Eren and Access Infra in Kazakhstan and is seen to promote foreign investment in the country’s renewables market.
Chinese PV panel manufacturer Risen Energy signed a mandate letter with the EBRD for financing for a 63MW PV project in Kazakhstan in May 2018. The construction of the PV park is seen to help offset around 49,000 tonnes of carbon dioxide (CO2) emissions and lower reliance on power imports and related transmission losses. Read more