$35Mn EBRD Loan For Kazakh PV Project

European Bank For Reconstruction & Development Signs $35 Million Loan & Project Support Agreement For Total Eren & Access Infra Central Asia’s First Solar Power Plant With Up To 28 MW Capacity In Kazakhstan
03:51 AM (Beijing Time) - 21. October 2018
EBRD PV Project

The 28 MW solar power project being developed by Total Eren and Access Infra Central Asia Ltd is the 6th project receiving financial support by EBRD under its Kazakhstan Renewables Framework. (Photo Credit: EBRD)

Key Takeaways

  • EBRD has approved a loan of up to $35 million for a solar power project of up to 28 MW capacity in Kazakhstan
  • The project in Kyzylorda in southern central part of the country is being developed by Nomad Solar LLC, a special purpose vehicle of Total Eren and Access Infra Central Asia Ltd.
  • EBRD has now signed loan and project support agreements with Nomad Solar LLC

A special purpose company formed by France’s Total Eren SA and United Arab Emirates (UAE) based Access Infra Central Asia Ltd., is set to receive a loan of up to $35 million for its solar power project in Kazakhstan from the European Bank for Reconstruction and Development (EBRD).

Nomad Solar LLP is implementing the 28 MW project in Kyzylorda region in southern central Kazakhstan. It has signed loan and project support agreements with EBRD. This is the 6th project under EBRD’s Kazakhstan Renewables Framework under which it supports clean technology projects, for which Green Climate Fund has also approved $110 million (see EBRD: $110 Million For Renewables In Kazakhstan). EBRD says it has been the sole project finance provider for renewable projects in the country.

The parent companies of Nomad Solar has been in talks with EBRD for quite some time now as it will mark the entry of these companies in the Kazakh solar market. Back in August 2018, the project was stated to have 30 MW capacity (see EBRD May Finance 30 MW Kazakh PV Project).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani