The European Bank for Reconstruction and Development (EBRD) and several other financial institutions are financing the construction of a 100-megawatt wind farm in Kazakhstan.
The EBRD will provide $24.8 million in financing for the project. In addition, the Asian Infrastructure Investment Bank will loan $34.3 million, the Industrial and Commercial Bank of China will loan $13.3 million, and the Green Climate Fund will commit $22.9 million.
The funds will be used by Zhanatas Wind-Power Station, a special project company run and owned by China Power International Holding in partnership with Visor Investments Cooperatief, to construct and operate the wind farm. The company also plans to build an 8.6-kilometer (5.3-mile) 110-kilovolt single-circuit line connecting the facility to the national grid.
The new wind power plant is expected to help reduce annual carbon emissions by some 262,000 tonnes.
The EBRD has invested more than €8.63 billion ($10.23 billion)
