Development Bank of Kazakhstan backs park of solar power plants in Kyzylorda region
The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, has provided financing for the development of a solar power plant park in the Kyzylorda region, supporting Kazakhstan’s transition to renewable energy, Qazinform News Agency cites the bank’s press service.
Under a credit line agreement, DBK extended financing of 104 million Chinese yuan to VIGOR Holding LLP for construction and installation works, as well as the procurement and installation of equipment.
The project will add 70 MW of solar generation capacity and is expected to produce 115.5 million kWh of electricity annually. It is being implemented in phases, beginning with the launch of the 20 MW Shieli-1 solar power plant. Future stages include the construction of the 20 MW Shieli-2 facility, which will feature an energy storage system (ESS), and the 30 MW Zhanakorgan solar power plant.
The ESS technology will enable surplus electricity generated during peak production periods to be stored and supplied to the grid when needed, helping to smooth power output, reduce strain on the grid and enhance operational reliability.
Renewable energy financing remains one of DBK’s strategic priorities, supporting Kazakhstan’s decarbonisation goals and long-term transition to carbon neutrality. Over the past 25 years, the bank has financed 218 investment projects and 151 export operations worth a combined KZT 19 trillion, contributing to the launch of 151 enterprises and the creation of more than 38,000 jobs nationwide. In 2025 alone, DBK provided financing for 77 projects totaling KZT 2.3 trillion.
As written before, Kazakhstan approved the construction of a 1,000 MW wind power plant with a 300 MW energy storage system in the Kostanay region as part of the country's efforts to expand renewable energy capacity.