Connect with us

Renewable Energy Times

EDRB mulls USD 111m in loans to big solar projects in Kazakhstan

Solar

EDRB mulls USD 111m in loans to big solar projects in Kazakhstan


August 30 (Solar) – The European Bank for Reconstruction and Development (EBRD) is considering extending loans for two solar power plants in Kazakhstan — a 100-MW project in Zhambyl, and a 100-MWp scheme in Karaganda.

For the first project, the bank is to extend a senior loan of up to EUR 50 million (USD 58.4m). The special purpose entity to act as the borrower is M-KAT Green LLP, a 75/25 joint venture between French renewables developer Total Eren and Access Infra Central Asia Ltd of the UAE. This will be their second solar investment in the Kazakh market, following the 30-MW Nomad Solar scheme.

M-KAT’s solar park is to be built in the electricity-constrained southern part of Kazakhstan and will thus help reduce dependence on electricity import from other regions, most of which from coal power plants. Transmission losses will also be reduced, the EBRD said.

The other solar loan, of up to USD 52.7 million equivalent in KZT, is for a project of SES Saran LLP, another special purpose vehicle (SPV) in Kazakhstan, owned by German sector company SOLARNET Investment GmbH.

The table summarises the information provided by the EBRD on the two project loans.

Project capacity 100 MW 100 MWp
SPV (owners) M-KAT Green LLP
(Total Eren/Access)
SES Saran LLP
(SOLARNET Investment)
EBRD financing KZT 20.12 million USD 52.7 million
Loan status
on August 29
Concept Reviewed Passed Concept Review,
Pending Structure Review
Total project cost KZT 45.84 million USD 105.3 million

“The [M-KAT] Project is expected to have a demonstration effect with a potential to pave the way for an increase in volume of foreign investment in the renewables sector of Kazakhstan. Furthermore, the Project will demonstrate the viability of project finance structures that are still scarce in the Kazakh market,” the bank noted.

(EUR 1 = USD 1.17)


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Solar

Categories

August 2018
M T W T F S S
« Jul   Sep »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Follow

Subscribe to notifications
To Top
%d bloggers like this: