DBK supports green projects: Kazakhstan launches new hydroelectric power plant

The construction of a small hydroelectric power station was completed on the Tursugun River, East Kazakhstan region. Its capacity is almost 25 megawatt. According to experts, this will provide its own sustainable energy saving not only in the eastern area of the country, but also in other regions. The launch of the new hydroelectric power station will reduce the cost of electricity production and its shortage by 78 kilowatt per hour a year. The Development Bank of Kazakhstan provided financial support for the project worth more than 13 billion tenge (US$30.5 million). Today its loan portfolio has also projects of renewable energy in the fields of wind and solar energy.

“Speaking of the sectoral structure of the loan portfolio, I would like to note that it has become more diversified over the last 10 years. New projects appeared in the fields of mechanical engineering, information and communication, tourism, renewable energy sources. In terms of the latter, from 2017 to the first half of this year, we considered nearly six investment projects worth 143 billion tenge (US$335.8 million). That is, the bank provided support,” said Rakhimzhan Satayev, Managing Director of the Development Bank o9f Kazakhstan.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova