| A landmark renewable energy project in Kazakhstan will be co-financed by the EBRD and the Clean Technology Fund (CTF) with loans of well over €80 million. EBRD President Suma Chakrabarti, said the EBRD has consistently supported sustainable energy projects in Kazakhstan, but Burnoye Solar is a particular landmark for the country’s Green Economy agenda. “It is a first in many crucial categories.
It will be the first commercial-scale solar park in Kazakhstan. It will be the first privately owned renewable energy generator in Kazakhstan. And it is the first use of a new project finance structure that will open the door to more private investment in renewables in the future.” The EBRD will lend 14.06 billion tenge (€70 million equivalent), and the CTF will lend €13.8 million to the project which is pioneering the use of a non-recourse project finance structure...............................................Full Article: Source
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