The European Bank for Reconstruction and Development (EBRD) and the government of Kazakhstan have signed a mandate letter on a 50 MW solar power plant near the space centre in Baikonur. According to the agreement, the EBRD is going to co-finance the project with up to $28 million. The plant will be built by Samruk Kazyna United Green Energy Ltd, a joint venture between UG Energy Ltd, a privately owned investment company registered in the United Kingdom, and Samruk-Kazyna Invest, a division of Kazakhstan’s sovereign wealth fund.
Moreover, the EBRD and the government signed signed a Memorandum of Understanding which will »open the country’s renewable energy market to a wider range of investors working under the EBRD’s dedicated framework«.
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