EBRD supported 262 MW of solar generation capacity in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) is currently reviewing a €300 million ($341 million) debt financing for renewable energy generation and grid transmission for the integration of renewable energy generation projects in Kazakhstan called »Kazakhstan Renewables Framework II«. According to the organization, it responds to the growing scale and maturity of the Kazakhstan renewable energy sector and is intended to catalyze the next stage in its development.
The »Kazakhstan Renewables Framework I« was approved by the EBRD Board in December 2016 for the total amount of €200 million of the EBRD debt financing and is now 90 percent utilized. Under the framework, the EBRD supported 262 MW of solar generation capacity, one grid-strengthening project, and attracted four new international private investors into the Kazakh renewables market.
The goal of Phase II is to support Kazakhstan in reaching its 2020 renewable energy target of 3 percent of generation capacity, and also to accelerate the transition of the country's renewables regulatory regime to one based on the competitive tendering of renewables projects.

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