(MENAFN - Wadsam) The Asian Development
Bank (ADB) has issued a $4 million loan to Barakat Kandahar Solar Energy for
the development of a 15.1MW solar power plant.
The aid is aimed at
helping the Afghan government to achieve the goal of generating 40% share/5,000MW
of the country's total energy capacity from solar by 2032.
The company will generate
27.5GW of electricity and as a result avoid 8,5000 tons of carbon dioxide
emissions per annum.
The 15.1 MW solar power project will generate about 27.5 GWh
of electricity annually and avoid 8,500 tons of carbon dioxide emissions. It
will also help lift the share of renewable energy in the country's total
installed power generation capacity up to 5,000 MW by 2032
ADB will also administer
a $3.85 million loan from the Canadian Climate Fund for Private Sector in Asia
II (CFPS II) for the project. CFPS II was established in March 2017 to
support greater private sector participation in climate change mitigation and
adaptation in low and lower-middle-income countries in Asia and the Pacific.
'Having a stable,
sustainable, and reliable energy source is important for the growth and
development prospects of Afghanistan, where power generation and access is one
of the lowest in the world,' said Senior Public–Private Partnership specialist
at ADB's Office of Public–Private Partnerships Mr. Mohammed Azim Hashimi.
'ADB's support for this important project will help provide long-term financing
that is not available locally to build and operate a state-of-the-art solar
power plant in Afghanistan.'
capacity accounts for 1% (3MW) of the country's total installed generational
capacity of 220,000 MW.