8 Nov 2023 14:07

Asian Infrastructure Investment Bank lends $36 mln for Shokpar wind farm project in southern Kazakhstan

ASTANA. Nov 8 (Interfax) - The Asian Infrastructure Investment Bank (AIIB) has signed a $36 million loan agreement for the development, construction, and operation of a 100 megawatt wind power plant in the Zhambyl region of southern Kazakhstan.

"The project is co-developed by China Power International Holding and Visor International DMCC and will be co-financed by the European Bank for Reconstruction and Development. It will also be supported by concessional financing of up to $10 million from the Green Climate Fund and up to $5.7 million from the Clean Technology Fund," AIIB said in a statement.

The project funds will be allocated for the construction and operation of the power plant and its integration into the power grid.

"The Shokpar 100 MW Wind Power Plant project follows the successful implementation of the 100 MW Zhanatas Wind Power Plant that sits on an adjacent land plot. AIIB approved the Zhanatas project in 2019, and all its 40 turbines have been fully operational since 2021," according to the press release.

The EBRD, AIIB, Industrial and Commercial Bank of China (ICBC), and the Green Climate Fund in 2020 collaborated to allocate $95.3 billion for the development of a 100 MW wind farm in the Zhambyl region, near the city of Zhanatas.