EDB finances the construction of the first large wind power plant in Kazakhstan
Almaty, 30 April 2013. Eurasian Development Bank (EDB) signed today an agreement with Kazakhstan’s First Wind Power Station LLP (Samruk Energy group of companies) on the provision of a ten-year loan facility for a total of KZT 14.2 billion (about US $94 million). The project will construct the first wind power plant in the town of Yereimentau in Kazakhstan’s Akmola Region with a capacity of 45 MW.
The plant is expected to generate 172.2 GWh of electricity a year. This will help decrease the forecasted deficit of electric power in the region. In addition, the project is expressly innovative.
«This is the first industrial project in Kazakhstan in the sphere of wind energy,» says Kanat Dosmukametov, Deputy Chairman of the EDB Management Board. «It will promote the development of alternate energy in Kazakhstan based on the use of renewable sources. This project is particularly relevant in the context of the forthcoming EXPO 2017 exhibition, whose theme will be Future Energy. In December 2012 the project was included in the Regional Industrialisation Map.» According to Mr Dosmukametov, the utilisation of renewable energy sources will help optimise the structure of generating capacities and, in particular, reduce the share of conventional sources of energy. This will save fuel and energy resources and mitigate the adverse impacts of the power sector on the environment by reducing greenhouse gas and other harmful emissions to the atmosphere.
Additional Information
Eurasian Development Bank 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. EDB’s charter capital exceeds US $1.5 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. Read more at https://www.eabr.org