The EDB to extend KZT 23.2 billion to construct a 50 MW wind farm near the town of Ereymentau
Nur-Sultan, 31 October 2019. The Eurasian Development Bank (EDB) and Ereymentau Wind Power, a company of the Samruk-Energy holding company, signed a KZT 23.2 billion loan agreement to finance the construction of a 50 MW wind farm near the town of Ereymentau.
The project is of social and economic importance to Akmola Region and is expected to improve the financial situation, energy sufficiency, as well as reliability of electric power supplies to Kazakhstan’s central and northern regions. The use of renewable energy has a positive effect on the environment and substitutes generation by thermal power plants.
“The development of renewable energy sources as a segment of the power sector is a key priority set by the Eurasian Development Bank’s strategy for 2018-2022. The Bank is ready to take part in medium- and large-sized energy projects, including the financing of winners of renewable energy project auctions held by the Kazakhstan Electricity and Power Market Operator,” Amangeldy Issenov commented.
The 50 MW wind farm near Ereymentau is not the only example of the EDB’s successful cooperation with Samruk-Energy in promoting renewable energy projects. In 2013, the Bank financed the construction of a 45 MW wind farm by the First Wind Power Plant in the same region, which was commissioned in 2015 and is currently in operation.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Samruk-Energy is Kazakhstan’s largest diversified energy holding company, which is successfully integrated into the world’s power balance and is building a highly efficient system of electric power supplies to ensure sustainable development of all industries in Kazakhstan.
Ereymentau Wind Power (EWP) was incorporated on 24 November 2011 as a project vehicle for this project.
The EDB Media Centre:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)