Goldbeck Solar reaches financial close for 50 MWp Karaganda solar project

Hirschberg-based Goldbeck Solar secured the financial close with the European Bank for Reconstruction and Development (EBRD) of its solar project in central Kazakhstan.

The solar park built in the middle of the Karaganda steppe in Kazakhstan has a capacity of 50 MWp within an area of 125 hectares. For its installation, 150 thousand solar panels and a powerful substation were used. The construction started in April 2019 and in June 2019 the plant became operational. This strategic project is fully owned by the GOLDBECK SOLAR Group.

EBRD has provided a long-term non-recourse lending facility consisting of a local currency loan (Kazakh Tenge) and a USD loan financed by the Green Climate Fund (GCF). Project proceeds are secured by a 15-year Power Purchase Agreement (PPA) signed with the Renewable Energy Financial Settlement Center (FSC).