EBRD will provide a senior loan to Total Eren & Access Infra’s 100 MW Kazakh solar power project under its Kazakhstan Renewables Framework. (Photo Credit: EBRD)
- EBRD has favourably considered giving €50 million ($58.5 million) as senior loan for a 100 MW solar power plant in Kazakhstan
- Asian Development Bank (ADB) will co-finance the project that is planned in the Zhambyl region of Southern Kazakhstan
- Total Eren and Access Infra’s 100 MW project will be financed through a special purpose entity M-KAT Green LLP that will borrow the money from EBRD and ADB
- The special purpose entity has Total Eren as majority shareholder with a 75% stake and Access Infra holding with a 25% stake
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The European Bank for Reconstruction and Development (EBRD) will be giving up to €50 million ($58.5 million) as senior loan for a 100 MW solar power plant in Kazakhstan. The project in the country’s southern Zhambyl region will be co-financed by the Asian Development Bank (ADB).
The 100 MW project is the second solar power project planned in the country by France’s Total Eren SA and UAE based Access Infra Central Asia Ltd. The duo have already approached the bank for financial support worth €31 million ($35 million) for the 30 MW Nomad Solar Power Plant, in Kyzylorda region in Kazakhstan (see EBRD May Finance 30 MW Kazakh PV Project).
A special purpose entity incorporated in the country, M-KAT Green LLP, will borrow this money. Total Eren is the majority shareholder in the company with a 75% stake, while Access Infra holds the remaining 25%.
These two projects are some of several solar power plants EBRD is supporting in the country under its Kazakhstan Renewables Framework, for which the Green Climate Fund had approved up to $110 million in 2017 (see EBRD: $110 Million For Renewables In Kazakhstan).