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France : EBRD to fund Urbasolars Zadarya solar PV project
Publish Date : 18-Jan-2018
French company Urbasolar SAS has attracted funding of around US$12.7 for its proposed 14 MW solar PV project in Kazakhstan.
The European Bank for Reconstruction and Development (EBRD) has announced it will fund Urbasolars proposed 14 MW Zadarya solar PV project to the tune of around $8.8 million.
The company expects the Clean Technology Fund to lend up to a further $3.9 million.
The plant will be set up by a special purpose company, Kaz Green Tek Solar LLP, which is majority held by Urbasolar, in the South Kazakhstan region, near the city of Shymkent.
Urbasolar said on its website that the plant will be built across two phases over a nine month period, and will comprise over 54,000 270 W solar PV panels. Thirty hectares have been leased for a period of 18 years on state reserve land, which is said to be used by Zadarya residents for the non-intensive herding of livestock.
Loan deals and a project support agreement were inked during the International Renewable Energy Agencys (IRENAs) 8th annual Assembly in Abu Dhabi, on January 13.
Nandita Parshad, EBRD Managing Director for Energy and Natural Resources, said, The project support agreement comes only half a year after a project signed at the opening of EXPO 2017 in Astana, which demonstrates the countrys commitment to making progress in the renewables sector.
President of Urbasolar, Arnaud Mine, added, We believe that photovoltaic technology will play a significant role in electricity production in Kazakhstan and Central Asia. This project will demonstrate the technical performance and economic viability of such a plant. We have been working for four years to prepare this project, and collaboration with the EBRD and the local partners is key to its success, as well as to that of future developments.
