“This project is of key importance for the advancement of the renewable energy sector, particularly solar energy,” said Eurasian Development Bank Senior Managing Director Denis Ilin. “It will contribute to greater energy security, stability and the sustainable development goals. The power plant will fully comply with international environmental and technical standards.”
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The Eurasian Development Bank has invested more than $674 million in renewable energy facilities since 2015, including the construction of seven solar plants with a total capacity of 35 MW in Armenia. It has also backed 10 solar plants with a capacity of 303 MW in Kazakhstan.
Last year, the Eurasian Development Bank announced a $127 million investment in a hydropower plant in the village of Kulanak, eastern Kyrgyzstan.
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