Total Eren of France launches 2 power projects in Kazakhstan

AKIPRESS.COM - Renewable energy company Total Eren based in Paris said it launched two projects in Kazakhstan, the company reported.
The project costs reach approximately 59.7 billion KZT (157 million USD).
The first project ("Nomad") is a 28 MWp PV power plant located close to the village of Zhalagash in the Kyzylorda region. The second project ("M-KAT") is a 100 MWp PV power plant located next to the village of Shu in the Zhambyl region.
Financial agreements have been signed and Financial Close is expected in the coming weeks. Nomad is financed using a 9.8 billion KZT (26.4 million USD) loan from the European Bank for Reconstruction and Development ("EBRD"). M-KAT is co-financed using both a 11.3 billion KZT (30.5 million USD) Asian Development Bank ("ADB") loan and a 21.5 billion KZT (58 million USD) EBRD loan.
For each project, a 15-year Power Purchase Agreement (PPA) has been signed with the Financial Settlement Center for Renewable Energy Sources (FSC), in September 2016 for M-KAT and in February 2017 for Nomad. Entirely owned by the Kazakhstan Electricity Grid Operating Company (KEGOC), the national grid operator, the FSC was created in 2013 to purchase electricity produced from renewable sources.
For both projects, Turnkey Engineering, Procurement & Construction (EPC) contracts have been signed with METKA EGN, a subsidiary of MYTILINEOS S.A, a leading Greek industrial company with activities in the sectors of EPC projects, metallurgy and electricity. Nomad and M-KAT will be the first PV power plants using single-axis trackers in Kazakhstan.
Currently under construction, the two projects should enter operation by the end of 2019. Once completed, Nomad and M-KAT are expected to generate 225 GWh per year together, enough to supply the needs of about 40,000 Kazakh people while reducing CO 2 emissions by about 300,000 tons per year.