ADB supporting business restructuring of Kazakhstan's largest power generation company
Date
6/14/2020 4:20:43 PM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, Jun. 14
By Nargiz Sadikhova - Trend:
Implementation of the project of Asian Development bank (ADB) to support overall business restructuring and transformation plan of Samruk-Energy, Kazakhstan's largest power generation company, is underway, ADB representative told Trend .
The official said that ADB's current non-sovereign loan portfolio in Kazakhstan includes three projects for about $162 million.
The ongoing projects in private sector include, apart from the loan to Samruk-Energy, two loans to support the construction and operation of solar power plants of a 50MW and 100 MW installed capacity in the Southern Kazakhstan.
"The solar power plants in South Kazakhstan that ADB is financing will boost the development of an early-stage solar power sector in the country and help replace imports of electricity in power-deficient southern Kazakhstan with indigenous renewable sources," the official said.
Talking benefits that Kazakhstan is to gain from implementation of these projects, the official said that these projects are aimed at promoting economic diversification, inclusive growth and sustainable development.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members.
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