EBRD to lend $61 mln for Shardara hydro plant upgrade in Kazakhstan
ALMATY. Sept 3. (Interfax) - The European Bank of Reconstruction and Development (EBRD) will; lend $61.2 million (9.15 billion tenge) to upgrade the Shardara hydroelectric power plant (HPP) in Kazakhstan.
The EBRD signed the deal with and OJSC Shardara HPP, a subsidiary of Samruk-Energo, Samruk-Energo said in a press release.
The Shardara HPP Modernization Project is included in Kazakhstan's program for industrial and innovation development in 2010-2014 and aimed at improving reliability of the hydro plant and increasing its installed capacity by 16% to 116 MW. As a result of the project the plant will produce additional 57 million kWh of electricity a year.
The total cost of the project is 15.2 billion tenge.
JSC Samruk-Energo, organized in 2007, is part of the Samruk-Kazyna National Welfare Fund. The company specializes in generation, distribution and sales of electricity and heat as well as coal production.