Caspian Energy Journal Caspian European Club
Friday, 06 October 2017 13:30

$110 million allocated for renewables

$110 million allocated for renewables

The Green Climate Fund (GCF) has approved financing worth $110 million for the Kazakhstan Renewables Framework of the European Bank for Reconstruction and Development.

The contribution of GCF consists of $106 million in concessional finance and $4 million in technical assistance grants.

EBRD will be an implementation agency for these projects. To date it has invested 7.3 billion euros in Kazakhstan, of which 1.7 billion euros was invested in sustainable energy.

The projects will help the Government of Kazakhstan in the transition to a “green economy”, including the development of solar and wind energy, small hydropower and biogas, as well as the modernization and strengthening of electric grids in order to expand integration of renewable energy sources.

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Person in charge of the newsline: Fidan Isayeva 

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