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Chinese company to build solar power plant in Kazakh Karaganda region

An agreement was signed during the meeting of the Foreign Investors Council in Astana on the launch of a joint project of the European Bank for Reconstruction and Development and the Chinese company Risen Energy on construction of a solar power plant in Karaganda region.

The agreement was sealed by the chairman of the Risen Energy, Lin Haifeng and Kazakhstan’s Minister of Energy, Kanat Bozumbayev.

"If this project is completed, the capacity of all solar and other wind power plants in Kazakhstan will be more than 200 megawatts," Kanat Bozumbayev said.

As explained in the Energy Ministry, this project is a continuation of cooperation between the EBRD and the Ministry of Energy of Kazakhstan in the field of renewable energy development under the Memorandum of Understanding signed in 2017.

"This is also the first joint EBRD project in renewable energy in Kazakhstan with the Chinese company Risen Energy, which envisages construction of a 40 megawatt solar power plant in Karaganda region," the note to the agreement says.

The EBRD financing program includes a $ 22 million loan in the national currency equivalent, a loan from the Green Technology Fund for up to $ 5.8 million and a loan of up to $ 4.2 million from the Green Climate Fund.

The new solar power plant will help reduce CO2 emissions by 55,000 tons per year, thereby contributing to the national emissions reduction commitments.

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