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EBRD to be for “Baikonur” EPS construction

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The electric power station in Baikonur with the power of 50 megawatt will be built in Kyzylorda region. Produced clear energy will be dispensed to the consumers who live near to the EPS with the help of close high-voltage lines of electric transmission, as well as to the consumers in Kyzylorda.

Besides, the Memorandum of mutual understanding was signed by the EBRD and the Government of Kazakhstan, which makes the market of renewable energy in the country open for the wide range of investors within the framework of EBRD’s special program.

The agreements covered by the Memorandum are a significant step in development of an upcoming sector of renewable energy in the country, which follows high tasks in the spheres of green economy and clear energy.

The new EPS which is financed by the Bank in the amount of 28 million dollars, will be constructed by the Samruk Kazyna United Green Energy Ltd that is a joint company registered in the UK by the private investment company United Green Energy Ltd and by the company Samruk Kazyna Invest, which is a division of the Sovereign Wealth Fund of Kazakhstan.

The EBRD has a complex program of financing renewable energy, with the estimation of 200 million euro. The financing of the future construction project of EPS Baikonur, as well as other projects in the sphere of renewable energy in the new memorandum of mutual understanding, will be realized within the framework of the program.

Today’s signings are the next prove in development of renewable energy in the country. The EBRD being the major source of financing and active supporter of reforms in the sphere of renewable energy not only in Kazakhstan, but in the whole region of our actions, is for the work with the investors on the further development of business-climate in this sector, especially taking into account Kazakhstan’s plan to move toward more market-friendly system of auctions, director of the EBRD Agris Preimanis said.

Source: Kazakhstan 2050

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