EBRD funds 30 MW solar PV project in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) has provided a senior loan of KZT4.4 billion (US$11.7 million) to Zhangiz Solar LLP, a special purpose vehicle set up by government for the development, construction, and operation of a 30 MW solar photovoltaic plant located in Zhangiztobe, in the East Kazakhstan region.

The EBRD's financing is also complemented with US$5 million co-financing from the Green Climate Fund. 

The solar project is currently developed by Universal Energy. Once completed, the PV farm is expected to generate over 38,900 MWh of electricity per year and will help to reduce CO2 emissions by 31,650 tons per year.