Please note: PSD updated 10 October 2018
Translated version of this PSD: Russian
An additional commitment of KZT 11.52 billion to the existing loan facility provided for Shardara HPP Modernisation project. EBRD signed an initial loan agreement in 2012 for the purpose of financing of old equipment replacement and improvement in efficiency of the hydropower plant.
Rehabilitaiton of the existing HPP leading to energy efficiency improvement thus strongly supporting green economy transition as one of strategic priorities set for Kazakhstan.
Green quality. Completion of Shardara HPP rehabilitation project will strongly contribute to improvement in energy efficiency and reliability of the hydro power plant which will also help to introduce additional manoeuvrable capacity much needed for renewables sector development in Kazakhstan.
SHARDARA HPP JSC
JSC "Shardarinskaya GES" was incorporated in 1998 as an owner and manager of the 100MW Shardara hydropower plant. The Company is 100% owned by Samruk-Energy, a power sector subsidiary of the National Welfare Fund Samruk Kazyna.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Category B. The Bank provided financing in 2012 for the modernization of the hydro plant under the Bank's 2008 Environmental and Social Policy. The current Project will enable the continued implementation of the Project and existing ESAP.
The Bank agreed in 2016 a corporate ESAP with the Company based on a corporate due diligence, which has focused on institutional strengthening. This is being implemented on time and schedule.
Overall the Company has been implementing both the hydro Project as well as corporate ESAP in line with existing requirements with good reporting. Environmental and social issues associated with the current project are site specific and readily mitigated through the implementation of the ESAP. As part of the current Project additional due diligence will be undertaken to assess the environmental and risks and ascertain whether the ESAP needs to be amended to take account 2014 Environmental and Social policy requirements. The ESDD will also review the GET component.
Based on the ESDD, the ESAP will be updated and a Non-Technical Summary (NTS) will be developed by the Client. The PSD will be updated once additional due diligence with potential impacts readily able to be identified and mitigated. Environmental and social due diligence is examining corporate systems for managing environmental and social risks, occupational health and safety, and human resources as well as reviewing potential impacts the modernization project may have on environmental and social resources. Based on the due diligence, an Environmental and Social Action Plan (ESAP) was developed with purpose to avoid, reduce, or mitigate associated negative impacts. The ESAP was agreed with the Company and was used as part of the financing agreement.
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