Development Bank of Kazakhstan JSC has entered into an agreement to open a credit line with Sarkylmas Kuat LLP
the implementation of an investment project aimed at constructing a 50 MW wind power plant in the Karakiya district of the Mangystau region.
The project is funded with insurance coverage from China Export & Credit Insurance Corporation (Sinosure). For DBK, this is the first project with coverage from this international export company.
The construction of the wind farm is aimed at reducing the shortage of electricity in the Mangystau region by increasing the generation of "clean" energy. The project will help reduce dependence on traditional sources of electricity and imports.
"The Bank adheres to environmental principles and actively supports sustainable investment projects. Investments in renewable energy sources are important areas for achieving sustainable development in Kazakhstan. In addition to reducing carbon emissions, the project helps reduce dependence on fossil energy sources and imports," noted Assem Shakenova, Managing Director for Infrastructure Projects and Interbank Lending.
After the plant is put into operation in 2025, it is expected that the volume of generated "green" energy will amount to 182.9 million kWh per year. This will reduce carbon dioxide (co₂) emissions by 143,872 tons annually, and will create 12 permanent jobs for the period of operation.
