The European Bank for Reconstruction and Development (EBRD) is planning to release financing of $26 million to Indian solar developer ACME Cleantech Solutions for the development of a 29 MW solar PV plant in Kazakhstan.
Worth an estimated $51 million in total, the EBRD loan would meet half of the development costs, with ACME footing the remainder of the bills.
The proposed Kulan solar power plant is to be located in Kazakhstans Zhambyl region, in the southern portion of the country.
According to the EBRD, the 29 MWp installation would become one of the largest in the country, and add to Kazakhstans growing clean energy portfolio. The fossil fuel-rich country has set a target of 3% renewable penetration by 2020, with areas of the north set to see solar and wind supplant the more traditional, carbon-intensive power generation sources.
The EBRD was previously involved in plans to develop solar in the country, co-financing in June last year a 50 MW solar project to the tune of $78 million.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.