EBRD provides 42.5M for 63 MWp solar project in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) is providing USD 42.5 million in debt to Risen Energy Co Ltd for the 63 MWp Chulakkurgan photovoltaic  solar project in Kazakhstan.

The long-term senior financing will support the development, construction and operation of the project. The total cost of the project is estimated at USD 75 million.

The project has passed concept review and is pending final review, scheduled for October 17. The project's expected construction will begin in September and to be concluded in June 2019. The plant will have the capacity to produce roughly 109,000 MWh of electricity.