AIIB inks $36m funding for 100 MW Kazakhstan wind project

It is the second wind power project in Kazakhstan.

The Asian Infrastructure Investment Bank (AIIB) has finalised a $36m loan for the planning, construction, and management of the 100-megawatt (MW) Shokpar Wind Power Project.

Located in the Zhambyl region of Southern Kazakhstan, the project is the second wind power plant development in the country.

The Shokpar Wind Project is also supported by China Power International Holding, Visor International DMCC, and the European Bank for Reconstruction and Development. It also received a $10m funding from the Green Climate Fund and a $5.7m from the Clean Technology Fund. All funds received will go to the overall development of the power plant and its integration into the Kazakh electricity grid.

The plant serves as one of the core initiatives to improve Kazakhstan’s renewable energy capabilities and reduce its greenhouse gas emissions by over 200,000 tonnes.

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“This project fully aligns with AIIB’s Energy Sector Strategy and priorities. It will further strengthen Kazakhstan’s renewable energy infrastructure and reduce the carbon intensity of its energy supply,” Konstantin Limitovskiy, Vice President for Investment Operations, Region 2 of AIIB, stated.

Shokpar’s development comes after the success of the 100 MW Zhanatas Wind Power Plant in 2019, along with its 40 turbines that have been in operation since 2021.

Currently, AIIB has covered over $836m in capital for renewable projects in Kazak