Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Kazakhstan
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Board Approved
Bank Risk Rating: U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-14
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Private Companies
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 212.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 200,000,000.00
Converted using 2017-04-11 exchange rate.
Project Cost (USD): $ 505.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported EUR 477,000,000.00
Converted using 2017-04-11 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-08-10
Disclosure Date: 2016-11-10
Kazakhstan Renewables Framework
EBRD-48919

Project Description
This project provides senior loans to private (and in exceptional cases public) companies to finance the construction and operation of renewable energy projects in Kazakhstan. These include solar, wind, small hydropower, and biogas energy sources, as well as the modernization and strengthening of the electricity grid. The EBRD expects to finance 6-9 projects under this project during the next 5 years. The sponsors will be local private institutional and public investors, as well as international private and institutional investors.
Investment Description
The EBRD's funds will be disbursed as secured project finance or corporate loans. Additional co-financing could be potentially attracted from the Clean Technology Fund, the Green Climate Fund, and other international financial institutions.
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.