The European Bank for Reconstruction and Development (EBRD) has approved a loan of $39 million to China Power International Holding (CPIH) to support the construction of a 100 MW wind farm to be built in Kazakhstan. The Shokpar wind farm, which is located in the Sarysu district in the Zhambyl region of the country, is an extension of the Zhanatas wind farm.
Reportedly, the project will be constructed on 164 hectares of land, and Envision company will power 22 EN-156 turbines. Furthermore, power from the wind farm will be transferred to the Opornaya substation through a 220 kV transmission line. After the completion of the project, it is anticipated to help decrease carbon dioxide emissions by up to 212,000 tonnes per year. The total anticipated cost of the wind farm is $135.6 million.
In April 2023, Red Sea Wind Energy received a loan of up to $100 million from the European Bank for Reconstruction and Development ($50 million) and the Green Climate Fund ($50 million) for the building of a 500 MW onshore wind farm in Egypt. The Japan Bank for International Cooperation and private commercial banks jointly financed the loan, which was covered by Nippon Export and Investment Insurance.
REGlobal’s Views: As countries focus on decarbonisation, new renewable energy hotspots are emerging in Asia and the MENA region. Kazakhstan is one these countries, which is witnessing significant activity in renewable energy space. Various large projects have been announced by global players like TotalEnergies, ACWA Power, and Masdar.
