KAZREF - Universal Energy Zhangiz Solar (EBRD-50640)

Countries
  • 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
Approved
Bank Risk Rating
B
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
Apr 9, 2019
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.
Borrower
Zhangiz Solar LLP
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 12.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 12.00 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)
$ 22.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 20, 2019

Disclosed by Bank Mar 19, 2019


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Project Description

According to EBRD website, the project is expected to contribute to the Kazakh Renewables Framework objectives by supplying 30MWp of additional renewable energy capacity into the grid as well as introducing more private ownership in the energy sector of Kazakhstan. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • Zhangiz Solar LLP -- Implementing Company

Zhangiz Solar LLP is a Special Purpose Vehicle (SPV) established in the Republic of Kazakhstan for the development and construction of the solar farm. The ultimate sponsor/parent of the SPV is Universal Energy Co. Ltd, a private Chinese power company focused on renewable energy investments.

Contact Information

Mr. Min Gao
Email Address: min_gao@universalenergy.com
+8613918186737

ACCOUNTABILITY MECHANISM OF EBRD

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, 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.