The European Bank for Reconstruction and Development (EBRD) is considering financing renewable energy projects – wind farms in particular – in Kazakhstan in 2012, a bank official told reporters.
“We are considering two or three projects for an amount of up to 100 million euros (US$133 million) and are still considering whether this will be debt or equity,” said Riccardo Puliti, EBRD managing director and head of energy and natural resources.
Kazakhstan, which has tripled oil production in the last decade on its way to becoming Central Asia’s largest economy, is seeking investment to develop wind, solar and hydroelectric projects to reduce a power deficit in parts of the country’s regions.