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EBRD Sustainability
Report 2014

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Case Studies > Tapping the potential of wind power in Kazakhstan

Impact

Tapping the potential of wind power in Kazakhstan

In a landmark project for Kazakhstan’s renewables industry, the EBRD is supporting the development of the first large-scale windfarm in the country, thanks to our new feed-in-tariff mechanism. The feed in tariff – which is the rate at which the national grid buys electricity from renewable sources – will enable renewables to compete with energy from fossil fuel-powered generators. Even though Kazakhstan has significant renewable energy resources, its power sector is still dominated by coal-fired power plants. Yet, wind potential alone is estimated at 18,000 GWh per year or 20 per cent of the current annual electricity demand.

The EBRD, in partnership with the Clean Technology Fund (CTF), will finance the construction, commissioning and launch of a greenfield 50 MW windpower plant located in Yereymentau in central Kazakhstan.

We will extend a loan of KZT 14 billion (€59.2 million equivalent) to Wind Power Yereymentau, a special-purpose vehicle incorporated in Kazakhstan, and the CTF will provide up to €18 million in concessional financing.

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SECTOR Power and energy EBRD INVESTMENT €59.2 million
OTHER BENEFITS Renewable energy CO2 savings estimated at 120,000 tonnes per year