Managing Director of JSC «Development Bank of Kazakhstan» (a subsidiary of the National Managing Holding «Baiterek» JSC) Assem Shakenova took part in the round table on «Financing of renewable energy projects in the Republic of Kazakhstan» which was held in Astana on 14 March, DKNews.kz reports.
She told representatives of the RES Association «QAZAQ GREEN», the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank and other participants of the event about the Bank’s support tools for RES projects.
In particular, Assem Shakenova reminded about the main financing conditions: the project amount should be at least 7 billion tenge when lending to DBK or at least 3.5 billion tenge with syndicated financing or co-financing, and the crediting term is from 5 to 20 years.
«In order to simplify the processes of consideration of renewable energy projects, the Bank, taking into account the Bank’s competence in the implementation of solar and wind power plants, has eliminated the mandatory requirement for the need to provide external expert assessments on technical and marketing expertise» Assem Shakenova
She also noted that DBK, in its new development strategy, has set itself the goal of increasing the share of infrastructure in lending to 35% by 2033, and «green» projects in the portfolio to a level of at least 30%.
It should be noted that the Development Bank of Kazakhstan has already supported more than 10 renewable energy projects. By January 1, 2024, the total volume of approved and funded projects in this area amounted to $542 million. Several new projects are currently under consideration, including wind, solar and hydroelectric power plants.
