Bank signs mandate letter for third solar park and paves way with government for private investors in renewable energy
The EBRD has signed a mandate letter for the co-financing of a new solar plant in Kazakhstan near the world-famous space centre in Baikonur.
The Baikonur Solar park, with a capacity of up to 50 MW, will be located in the Kyzylorda region. The clean energy will feed the neighbouring high-voltage lines that serve the nearby area including the city of Kyzylorda.
In addition, the EBRD and the government of Kazakhstan also signed a Memorandum of Understanding (MoU) today which will open the country’s renewable energy market to a wider range of investors working under the EBRD’s dedicated framework.
The agreements reached in the MoU represent a major step forward for renewables in a country with a nascent renewables sector but with ambitious targets for a green economy and clean energy.
The MoU was signed by the Minister of Energy of Kazakhstan, Kanat Bozumbayev, and EBRD Director, Head of Kazakhstan Agris Preimanis. The signing took place in the presence of Kazakhstan’s Prime Minister Bakhytzhan Sagintayev a day before the Foreign Investors’ Council was due to gather in Astana to discuss the topic of “New Energy”.