ADB signs loan for 50 MW solar PV project in Kazakhstan

The Asian Development Bank has signed a US$11.5 million loan in tenge equivalent with Baikonyr Solar Limited Liability Partnership to support the development of solar power in Kazakhstan and further enhance the country’s energy security through increased renewable sources.

The project comprises the design, construction, commissioning, operation, and maintenance of a 50 megawatt solar power plant, along with the necessary infrastructure for grid integration. The solar plant—which is expected to generate 73 gigawatt-hours of electricity per year and will include approximately 150,822 photovoltaic panels, 14 central invertor stations, and a substation—will be located in southern Kazakhstan over 150 hectares of land.

Baikonyr Solar LLP is a special purpose vehicle incorporated in Kazakhstan and is owned by UG Energy Limited and Baiterek Venture Fund Joint Stock Company, which is a subsidiary of Kazakh sovereign wealth fund Baiterek JSC.