EBRD loan to renew heat networks in Kazakhstan

Almaty hosted signing of a loan agreement between EBRD and the Central-Asian Electric-Power Corporation (CAEC). EBRD is to provide two loans totally worth $ 40 million to renew the heat supply system in the north of Kazakhstan, Tengrinews.kz reports. “The Bank’s loan will enable CAEC to raise the energy efficiency of the heat network, making it more environmentally friendly, while the consumers will enjoy greater reliability of the system”, Alexandr Klebanov, CAEC Chairman of the Board, told a briefing today in Almaty. The project envisages overhaul of the heating systems in Pavlodar, Ekibastuz and Petropavlovsk, including repairs of the pipelines, installment of heat meters and modernization of the control system. Mr. Klebanov elaborated that the Bank would provide $30 million for a 13-year period, while the other $ 10 million would come from the Clean Technology Fund (CTF). Modernization efforts will be completed by 2014. Within the following decade, the heat network operator will be able to reduce CO2 emissions by 130 000 tons per year. Central-Asian Electric-Power Corporation (CAEPCO) is an integrated power holding founded in 2008.