Nur-Sultan, (UNA-OIC) – The signing of a syndicated US$95.3 million deal to support the construction of the Zhanatas 100 MW wind farm in southern Kazakhstan, marks a major milestone in the decarbonization and diversification journey away from the country’s coal legacy, Kazinform reported citing the European Bank for Reconstruction and Development.
This will be one of the largest windfarms in the region, achieving a myriad of breakthroughs in the market and firsts for the country: the first project for a large Chinese investor, the first renewable project for the Asian Infrastructure Investment Bank (AIIB) in Central Asia, the first renewable project in the country co-financed by a commercial bank and the first Kazakh windfarm under a project finance structure.
Construction of the wind farm proceeds at a strong pace despite global turbulence and challenges posed by the Covid-19 pandemic. Following lockdowns and restrictions, the Government of Kazakhstan extended deadlines for the completion of all renewable projects, providing crucial support to all stakeholders in the sector. Zhanatas Wind sends a strong message to the international energy community that it is possible to continue pressing on with the green agenda, despite immense global challenges.
