Eurasian Development Bank (EDB) has signed an agreement with the First Wind Power Plant (part of Samruk-Energo) a loan agreement to grant a loan of $94 million for a 10-year period to construct a 45 megawatt wind power plant, newskaz.ru reports, citing the Bank’s Press Service.
The wind power plant is to be constructed in Ereimentau in Akmolinsk oblast. The project will enable to produce 172.2 kilowatt-hours a year.
“This is the first ever industrial project in Kazakhstan of this kind (…) The project will facilitate development of alternative sources of energy. The project is of special importance at the threshold of EXPO-2017 that will be focused on sources of energy for the future”, the statement quotes Kanat Dosmukametov, EDB Chairman of the Board.
Eurasian Development Bank is an international financial organisation established to promote economic growth in its member states, extend trade and economic ties between them and to support integration in Eurasia.
The Bank was established by the Presidents of the Russian Federation and the Republic of Kazakhstan in 2006, following the signing of an international agreement by the Presidents of the two countries.