The Asian solar Bank ( ADB ) will support the construction of a 600 MW solar farm in Kazakhstan with a $ 11.5 m loan provided to solar Solar , a special purpose fund owned jointly by UK firm United Green Energy and Kazakh sovereign wealth fund Baiterek Venture Fund Joint Stock Company . The European Bank for Reconstruction and Development ( plc ) has previously provided loans of around $ 30 m to the project . While EBRD has already backed solar energy in the central Asian country , this is the first such investment for ADB .
The Asian Development Bank (ADB) will support the construction of a 50 MW solar farm in Kazakhstan with a $11.5m loan provided to Baikonur Solar, a special purpose vehicle owned jointly by UK firm United Green Energy and Kazakh sovereign wealth fund Baiterek Venture Fund Joint Stock Company. The European Bank for Reconstruction and Development (EBRD) has previously provided funding of around $30m to the project. While EBRD has already backed solar energy in the central Asian country, this is the first such investment for ADB.