GOLDBECK SOLAR achieves financial closure of the Akadyr expansion with the support of the European Bank for Reconstruction and Development (EBRD ). The 26-WWp solar project has thus been successfully completed.
No results found.
GOLDBECK SOLAR achieves financial closure of the Akadyr expansion with the support of the European Bank for Reconstruction and Development (EBRD ). The 26-WWp solar project has thus been successfully completed.
Built in the middle of the Karaganda steppe in Kazakhstan, the Akadyr extension solar park has a capacity of 26 MWp and is the second phase of the existing 50 MWp Akadyr project. The Akadyr solar plant uses bifacial modules and is a showcase project for the adaptation of this technology in Central Asia. The construction was successfully completed in a record time of three months, despite extreme global challenges in 2020. This strategic project is fully owned by the GOLDBECK SOLAR Group. The EBRD has provided a long-term non-recourse credit facility consisting of a local currency loan (Kazakh Tenge), a USD loan financed by the Green Climate Fund (GCF ) and a USD loan from the Clean Technology Fund (CTF). The project will be implemented under the recently implemented Kazakh auction system and its revenues are secured by a 15-year power purchase agreement (PPA) signed with the Financial Settlement Center for Renewable Energy Sources (FSC). Olga Kovalchuk, Senior Investment Manager at GOLDBECK SOLAR: “The successful financial closing with our partners represents an important milestone for the project, following the financial closing for Akadyr. This important step reaffirms our commitment to support the renewable energy sector in Kazakhstan. We look forward to further cooperation with all stakeholders involved.”
Petr Konstantinov, Associate Director for Energy Eurasia in the EBRD Sustainable Infrastructure Group, confirmed the positive cooperation between all parties: “We are pleased to support our existing client GOLDBECK SOLAR in this project, which represents a success for the Kazakh auction system and a milestone on the road to green recovery.”
The project is a cornerstone of the energy transition in Kazakhstan and will contribute to achieving the national emission reduction targets. In addition, there are parallel benefits to this investment, such as the cooperation project to promote the inclusion of women, giving them access to education and training in the field of renewable energy in Kazakhstan. This and other projects are supported by the company as part of its sustainability policy. GOLDBECK SOLAR has been present in Kazakhstan since 2017 and, through continuous investment, has enabled the construction of 176 MWp of solar plants in the country, consolidating its position as one of the main players in the Kazakh solar market. These projects provide 68,750 households with clean energy and save 185,079.37 kg ofCO2 per year. Thanks to these investments, the Karaganda region has become the market leader in the production of renewable energy in Kazakhstan and plays a significant role in the development of the solar industry not only in the Karaganda region, but also for the country as a whole.
