The provision of a long-term senior debt of up to US$ 32 million in KZT equivalent for the development, construction and operation of a solar photovoltaic power plant with an installed capacity of 50 MWp located in the Chulakkurgan district, south of Kazakhstan.
The project will support Kazakhstan in increasing the share of renewable energy in Kazakhstan's energy mix and will contribute to achieving the country's goal of non-hydro renewable energy accounting for 3 per cent of all power generation by 2020.
ETI score: 80
The transition impact stems from the fact that the Project will assist Kazakhstan in diversifying its coal-dependent power sector and reducing CO2 emissions. The project will also foster private ownership of renewables projects in the power generation sector.
YUKSES 50 LLP
YUKSES 50 LLP is a Special Purpose Vehicle (SPV) established for the development, construction and operation of the Chulakkurgan solar photovoltaic power plant with capacity of 50 MW. The Borrower is fully owned by Risen Energy (China).
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Category B (ESP 2014). Environmental and social risks and impacts associated with the construction and operation of a medium sized greenfield solar photovoltaic power plant were readily assessed as part of the independent Environmental and Social Due Diligence (ESDD) and can be mitigated via the agreed Environmental and Social Action Plan (ESAP). The Project is consistent with the GET approach and the GET share is 100%.
ESDD is ongoing and has confirmed to date that the site is not located in sensitive area and that the Company has the institutional capacity to fully implement the Bank's Performance Requirements (PRs) This will be further assessed and the Company will be require to implement good E&S management practices, implementation of the ESAP and monitoring. The on-going ESDD will further review the planned construction actives.
A number of the environmental and social management improvements will be included in the ESAP, inter alia: enhancement of the EHS management system, contractor and supply chain management, construction noise and emission reduction, Stakeholder Engagement Plan and grievance mechanism. In line with the approach taken with similar projects, as part of implementing the ESAP requirements, the Company will implement a Corporate Social Responsibility Program (CSRP) aimed at community development and outreach, including local social infrastructure, and increasing awareness of the Project. The ESAP will be agreed prior to signing the Project.
A Stakeholder Engagement Plan (SEP) and Non-Technical Summary (NTS) have been prepared and disclosed on the Company's web site.
The PSD will be updated based on the outcome of the ESDD and agreement of the ESAP. An NTS will also be attached.
Technical Cooperation and Grant Financing
TC funding was sought to co-finance due diligence costs subject to availability under the existing Kazakhstan Renewables Framework in accordance with the Framework's criteria.
Company Contact Information
7 Floor, No. 588 Dongdaming Road, Metersbonwe Building, Hongkou District, Shanghai, PRC
PSD last updated
13 Jan 2021
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