The cost of the Project is KZT13.2 bn., DBK lends KZT9,05 bn. for a period of 8 years to EcoProTech-Astana LLP (EcoProTech-Astana). The participation of the borrower in the financing of the Project will amount to KZT4.2 bn.
The construction of the power plant, which is planned to be completed before the end of this year, provides for the installation of over 77,000 photoelectric modules, 10 inverters and transformers, and 10 switchgears.
"Financing projects in the field of renewable energy sources (RES) is one of the activities of DBK, as it corresponds to the Bank's mandate in terms of promoting the development of industrial infrastructure. Earlier, over the past two years, the Bank opened financing of two projects in the sphere of renewable energy in the amount of KZT35.5 bn. The project for the construction of a solar power plant in the SKR is notable for the fact that this is the first project financed by the Bank using such a tool as project financing. The future cash flows from the implementation of the Project are guaranteed by the Settlement and Finance Center for Support of Renewable Energy Sources, a subsidiary of KEGOC noted Aizhan Bitebayeva, senior banker of the DBK Directorate for Client Relations.
"To date, about 80% of electricity in Kazakhstan is produced in the northern part of the country, not far from coal deposits. The main part of this energy is also used there. At the same time, in the south, electricity consumption is almost twice as high as production. When choosing the location of the solar power plant, two main factors were taken into account: potential of solar radiation and the possibility of technological connection to electric networks located near the production site. Based on the results of the pre-project studies, we determined the location of the solar power plant near the village of Zhylga in the Saryagash district of the South Kazakhstan region, said Nazir Temirov, General Director of EcoProTek-Astana LLP.
