European Bank for Reconstruction and Development (EBRD) has offered Wind Power Yereymentau a KZT14bn (€59.2m) loan for the development of a 50MW wind power project in Kazakhstan.

The project will be the first large-scale wind farm in Kazakhstan that will be financed under the new feed-in-tariff mechanism.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Located in Yereymentau in central Kazakhstan, the scope of the plan will involve construction, commissioning and launch of a greenfield 50MW wind power plant, which will then be connected to the power transmission grid.

"We stand ready to help Kazakhstan unlock its potential in renewables by financing pilot projects with strong local and foreign companies." 

In addition to the EBRD, Clean Technology Fund (CTF) will offer up to €18m of concessional financing for the project, the first in the country.

Kazakhstan’s national energy company JSC Samruk-Energo will guarantee the loan for the Yereymentau Wind Park.

JSC Samruk-Energo management board chairman Almassadam Satkaliyev said: "This year we are completing the construction of the first wind farm with a 45MW capacity.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"Our partnership with the EBRD and the CTF will enable us to increase capacity up to 95MW."

EBRD energy and natural resources managing director Riccardo Puliti said: "Supporting clean energy projects is at the core of the EBRD’s mandate.

"We stand ready to help Kazakhstan unlock its potential in renewables by financing pilot projects with strong local and foreign companies."

The project will be carried out under Kazakhstan’s new regulations, which include the renewable energy law introduced in June 2013.

It will also set the benchmark for developing, building and operating a greenfield renewable project.

Energy