The Asian Infrastructure Investment Bank (AIIB) announced the successful closure of a USD 36 million (EUR 33.7 million) financing agreement to support the development of a 100-MW wind farm in the southern region of Zhambyl, Kazakhstan.
This funding injection is designated for the Shokpar project, a joint endeavor between China Power International Holding and Visor International, an investment company founded by a consortium of Kazakh investment professionals. The allocated funds will play a pivotal role in advancing the wind farm's construction, grid connectivity, and operational activities.
In addition to AIIB's involvement, the wind project will benefit from financial assistance from the European Bank for Reconstruction and Development (EBRD), which is set to contribute up to USD 10 million in concessional financing. Additionally, the Green Climate Fund will provide up to USD 10 million in financial support, and the Clean Technology Fund will allocate up to USD 5.7 million for the initiative.
Upon completion and activation, the Shokpar wind park, situated in the Sarysu district of Zhambyl, will produce clean electricity capable of offsetting over 200,000 tonnes of carbon dioxide (CO2) emissions annually.
According to information available on the project's official website, construction of the wind park is currently in progress, with operations expected to commence in the first quarter of 2024. The project aligns with Kazakhstan's commitment to achieving net-zero greenhouse gas emissions by the year 2060.