The European Bank for Reconstruction and Development (EBRD) is to provide a €31m ($35.2m) loan towards the construction of a 30 MW solar project in the Kyzylorda region of southern Kazakhstan. The scheme, which will cost $47.3m in total, aims to reduce the region's dependency on imported electricity. Kazakhstan has been hit by an energy crisis since 2008, when its economy was rocked by falling oil prices that led to widespread blackouts.
The European Bank for Reconstruction and Development (EBRD) is to provide a €31m ($35.2m) loan towards the construction of a 30 MW solar project in the Kyzylorda region of southern Kazakhstan. The scheme, which will cost $47.3m in total, aims to reduce the region's dependency on imported electricity. The project will be undertaken by Nomad Solar, a company established by Total Eren and Access Power.