EDB to provide 23.2 billion tenge for construction of 50 MW wind farm in Kazakhstan

AKIPRESS.COM - The Eurasian Development Bank (EDB) and Ereymentau Wind Power, a company of the Samruk-Energy holding company, signed a KZT 23.2 billion loan agreement to finance the construction of a 50 MW wind farm near the town of Ereymentau, the EDB reported.
The project is of social and economic importance to Akmola Region and is expected to improve the financial situation, energy sufficiency, as well as reliability of electric power supplies to Kazakhstan's central and northern regions. The use of renewable energy has a positive effect on the environment and substitutes generation by thermal power plants.
"The development of renewable energy sources as a segment of the power sector is a key priority set by the Eurasian Development Bank's strategy for 2018-2022. The Bank is ready to take part in medium- and large-sized energy projects, including the financing of winners of renewable energy project auctions held by the Kazakhstan Electricity and Power Market Operator," Amangeldy Issenov commented.
The 50 MW wind farm near Ereymentau is not the only example of the EDB's successful cooperation with Samruk-Energy in promoting renewable energy projects. In 2013, the Bank financed the construction of a 45 MW wind farm by the First Wind Power Plant in the same region, which was commissioned in 2015 and is currently in operation, the press release says.