Chinese PV panel manufacturer Risen Energy signed a mandate letter with the EBRD for financing for a 63MW PV project in Kazakhstan in May 2018. 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. Kazakhstan has been hit by an energy crisis since 2008, when its economy was rocked by falling oil prices that led to widespread blackouts.