EBRD facilitates development of renewables and logistics infrastructure in Kazakhstan
The European Bank for Reconstruction and Development (EBRD) is helping to meet growing demand for industrial infrastructure in the renewable energy and logistics sectors in Kazakhstan and across Central Asia by supporting the operations of Sarens Kazakhstan, Qazinform News Agency learnt from the Bank's press service.
The EBRD’s loan of up to €25 million (in KZT equivalent) to Sarens Kazakhstan, a fully owned subsidiary of Sarens Group, a family-owned multinational company headquartered in Belgium, will help the firm to expand its integrated engineering solutions for operations in heavy lifting, engineered transportation, and installation.
The funds will be used to acquire high-capacity cranes, a fleet of trailers and other specialised vehicles and to finance the company’s working capital needs.
The equipment to be procured with the EBRD loan is expected to enable the installation of at least 11.75 GW of additional wind capacity. This will help contribute to the government’s plan of bringing the share of renewables in the country’s total energy output to 15 per cent by 2030.
The project will also help to develop logistics infrastructure related to the Trans-Caspian Corridor, a key element of sustainable transport connections between Europe and Central Asia.
This long-term loan offers a longer maturity currently unavailable from local commercial banks. It aligns with the EBRD's commitment to supporting the green economy transformation and developing sustainable infrastructure in its regions of operation.
The EBRD has invested almost €10.3 billion in Kazakhstan across 342 projects, with most of the funds supporting private entrepreneurship.
To note, EBRD supports construction of food supplement plant in Kazakhstan.
