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EBRD providing $60.6 million to finance modernization of the Shardara hydropower plant in Kazakhstan

03 september 2012, 13:51
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Шардаринская ГЭС. Фото с сайта sharges.kz
Шардаринская ГЭС. Фото с сайта sharges.kz
By Yaroslav Radlovsky ©
By Yaroslav Radlovsky ©
European Bank for Reconstruction and Development has allocated a loan of $60.6 million to finance modernization of the Shardara hydropower plant, Samruk – Energo Company’s Press Service reports.

The loan agreement was signed in London August 24.

“This project is of paramount importance to secure stable power supplies to the south of Kazakhstan. This project is about attracting new technology, developing renewable sources of energy”, Almasadan Satkaliyev, Head of Samruk – Energo said.

The project to modernize the facility is part of the State-run Program of Accelerated Industrial Development for 2010-2014 and is targeted at preventing emergency shutdowns of the power plant, bringing its capacities up by 16% to 116 megawatt and producing another 57 million kilowatt-hours a year. The project is estimated at $101 million.
The loan will go to finance purchase of equipment as well as related building, installation and commissioning operations.

Samruk – Energo was founded in 2007 as part of the Samruk – Kazyna Sovereign Wealth Fund. The Company gerenerates, distributes and sells electric power. The overall capacity of all the electric power plants owned by Samruk – Energo stands at 7970.9 megawatt, 40.3% of the capacity of all electric power plants located in Kazakhstan.

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