After commencing operations in June 2019, GOLDBECK SOLAR has now also achieved financial closure of the Akadyr solar project in Kazakhstan with the European Bank for Reconstruction and Development (EBRD ).
No results found.
After commencing operations in June 2019, GOLDBECK SOLAR has now also achieved financial closure of the Akadyr solar project in Kazakhstan with the European Bank for Reconstruction and Development (EBRD ).
The solar park built in the middle of the Karaganda steppe in Kazakhstan has a capacity of 50 MWp on an area of 125 hectares. For its installation, 150 thousand solar panels and a powerful transformer station were used. Construction began in April 2019 and the plant was commissioned in June 2019. This strategic project is fully owned by the GOLDBECK-SOLAR Group. The EBRD has provided a long-term non-recourse loan facility consisting of a local currency loan (Kazakh Tenge) and a USD loan financed by the Green Climate Fund (GCF). The project proceeds are secured by a 15-year power purchase agreement (PPA) signed with the Renewable Energy Financial Settlement Center (FSC). “We are pleased to announce this important milestone, which was only possible thanks to our highly experienced team and cooperation with Tier 1 partners as well as the support of the local authorities,” said Olga Kovalchuk, Senior Investment Manager at GOLDBECK SOLAR.
The Akadyr project is a cornerstone of Kazakhstan’s energy transition process and will contribute to achieving the national emission reduction targets. In addition, there are parallel benefits of this investment, such as the cooperation project to support the inclusion of women, giving them access to education and training in the renewable energy sector 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 with a continuous investment that 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 of CO2 per year. Thanks to these investments, the Karaganda region has become the leading producer 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.
