Asian bank backs Kazakhstan wind

The Asian Infrastructure Investment Bank (AIIB) has approved a loan for the construction and operation of a 100MW wind farm in southern Kazakhstan.

The $46.7m loan is for the Zhanatas project located approximately nine kilometres southwest of Zhanatas in the southern Zhambyl region.

When completed the plant will provide the country approximately 319 gigawatt hours of electricity a year and reduce carbon dioxide emissions by 260,623 tonnes.

The Zhanatas is supported by a memorandum of understanding between AIIB and the Ministry of Energy of the Republic of Kazakhstan, which laid the foundation for greater cooperation on renewable energy project financing, AIIB said.

AIIB vice president and chief investment officer DJ Pandian said: “Our investment in the largest wind power plant in the region reflects AIIB’s support for the government of Kazakhstan’s transition to a green economy, which will advance efforts to meet the country’s commitments under the Paris Agreement.”