KazRef II - Zhanatas Wind Farm (EBRD-50569)

  • Kazakhstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 21, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 27.52 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 146.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 11, 2020

Disclosed by Bank Aug 4, 2020

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Project Description

EBRD is providing a senior loan of up to US$ 27.5 million in KZT equivalent to Zhanatas Wind-Power Station LLP for the construction and operation of a 100 MW wind farm in the Zhambyl region of south Kazakhstan.


According to the EBRD website, the main project aim is to improve the regulatory and legislative environment for renewables generation and include initiatives to promote access to employment and entrepreneurship opportunities for women in the sector. The current investment of EBRD has been provided as the response to COVID-19 pandemic situation in Kazakhstan, as the impact of COVID-19 is exacerbated by the drop in global oil prices and Kazakhstan's economy under significant stress in light of anticipated GDP contraction.


A senior loan of up to US$ 27.5 million in KZT equivalent (but not more than KZT 11.6 billion) in favour of Zhanatas Wind-Power Station LLP. The Bank's loan will be accompanied by a facility from the Green Climate Fund ("GCF") in the amount of up to US$ 24.1 million. The Project will be co-financed with the Asian Infrastructure Investment Bank ("AIIB") in the amount of up to US$ 50.3 million.


USD 146,021,088.00


Category B (ESP 2014). Environmental and social risks associated with the development of the medium sized wind farm are mainly driven by site location and possible impact on migratory birds and local communities resulting from land acquisition process. An ESDD using an independent consultant has been undertaken jointly with the AIIB.


Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
Private Actors Description

Zhanatas Wind-Power Station LLP, a special purpose entity incorporated in the Republic of Kazakhstan to implement the Project, will act as a borrower. The borrower will be jointly owned by China Power International Holding Ltd. (China) and Visor Investment (Kazakhstan).

Contact Information


You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request


The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html


Podoinikova Xeniya, Chief Accountantxenia75@mail.ru+7-771-993-1540