Solar plant in Kazakhstan granted $42.6m loan to help the country meet CO2 targets

The new project is forecast to reduce annual carbon dioxide emissions by more than 80,000 tonnes

A 76MW solar power plant in Kazakhstan has secured a $42.6 million (£32.8m) loan to help the country meet its carbon reduction targets.

The new project, which is forecast to slash 80,000 tonnes every year, will employ bifacial solar modules able to produce solar power from both sides of the panels.

The funding package provided consists of loans by the European Bank for Reconstruction and Development (EBRD), the UN Green Climate Fund (GCF) and the Climate Investment Funds’ Clean Technology Fund (CTF).

The investment is part of the €500 million (£455m) EBRD programme to help the country respond to the challenges of climate change, increase investments in renewables, provide technical assistance and build institutional capacity.

Kazakhstan has a total installed solar capacity of 216MW.

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast