London headquarteredEBRD plans to finance the 30 MW Nomad Solar Power Plant in Kazakhsta. (Photo Credit: EBRD)
- 30 MW Nomad Solar Power Plant in Kazakhstan is under evaluation from EBRD
- It is seeking up to €31 million ($35 million) in financing from the EBRD, out of total project cost of €41.2 million ($46.8 million)
- The project location is Kyzylorda region and is being developed by Total Eren and Access Infra, who will enter the Kazakh market with this project
- They plan to use Canadian Solar’s multicrystalline sun-tracking panels with Sungrow inverters for the project
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The European Bank for Reconstruction and Development (EBRD) is evaluating lending up to €31 million ($35 million) for a 30 MW solar power plant in Kazakhstan. This project is being developed by Total Eren SA and Access Infra Central Asia Ltd in Kyzylorda region of the country and will mark their solar entry in the Kazakh market.
Both the companies have established a special purpose vehicle, Nomad Solar LLP, to implement the project. It will be built using 120,682 Canadian Solar 196x99x4 cm polycrystalline sun-tracking panels, with 12 Sungrow SG2500 HV-MV (1.5 kV) inverter substations. On completion, it is expected to generate around 66 GWh annually.
The Nomad Solar Power Plant will be located in a region that’s dependent on expensive imported electricity from mostly coal fired power plants. While assuring clean energy, the plant will also demonstrate the viability of project finance structures that are still scarce in the country, according to EBRD.
Total project cost is estimated to be €41.2 million ($46.8 million). Environmental and social due diligence has been conducted and it is found to be fully compliant with necessary regulations.
The project will be part of the Kazakhstan Renewables Framework, for which Green Climate Fund (GCF) in October 2017 approved up to $110 million.