KAZREF II - Shokpar Wind (EBRD-52946)

  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
  • Kazakhstan
Geographic location 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.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 25, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 135.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 9, 2022

Disclosed by Bank Nov 11, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.


The provision of a senior loan of up to US$ 50 million (in US$ and/or KZT equivalent) to Shokpar Wind Power Station LLP for the development, construction, and operation of a wind power plant with an installed capacity of 100MW located in Sarysu district of Zhambyl region.


The project will support Kazakhstan in its objective to increase the share of renewable energy in the energy mix, contribute to reducing Kazakhstan's carbon intensity, and address the country's increasing electricity demand.


ETI score: 70

The Transition Impact arises from the Green and Inclusive qualities:

Green - the project entails the addition of 100MW of RES capacity added to Kazakhstan's generation profile.

Inclusive - the project will contribute to Gender inclusion and promote access to employment and entrepreneurship opportunities for women in Kazakhstan's renewables sector.



Shokpar Wind Power Station LLP a special purpose entity incorporated in the Republic of Kazakhstan to implement the project, will act as the borrower.

The borrower will be jointly owned by China Power International Holding Ltd. (63 per cent) and Visor International DMCC (37 per cent). China Power International Holding Ltd. is a Chinese state-owned power utility 100 per cent owned by the State Power Investment Corporation Limited. Visor International DMCC is a private investment holding firm founded by a group of Kazakh investment bankers.


USD 50,000,000.00

A senior loan of up to US$ 50 million (in US$ and/or KZT equivalent) to Shokpar Wind Power Station LLP. The EBRD financing is anticipated to be accompanied by a CTF and/or GCF loan of up to US$ 10 million, and another IFI/DFI loan of up to US$ 40 million.


USD 135,600,000.00

US$ 135.6 million.


The EBRD is providing a long-term loan with a tenor that is scarcely available on the commercial market in Kazakhstan, especially for structured project finance transactions of this nature. Under the current circumstances, long-term local currency financing is not readily available in Kazakhstan. Moreover, the EBRD's good track record in the country provides comfort to the sponsor, enabling its entry into the Kazakh market. The Bank is also additional in terms of requiring adherence to EHS aspects and the EBRD PRs, which are stricter than local requirements. Through the project, the Bank will support policy and regulatory work to promote inclusion opportunities in the renewable energy sector.


Categorized B. The project is the extension of Zhanatas Wind Farm (OpID: 50569), the project located in Sarysu district of Zhambyl region, south Kazakhstan. The new Project will add an extra 22 turbines (100 MWe) to the same location in the adjacent land plot owned by the shareholders and will utilize much of the same infrastructure including same Opornaya substation via a 7.6 km 220 kV transmission line. Overall environmental and social issues associated with the extension of the existing wind power plant are site-specific and readily assessed based on Environmental and Social Due Diligence (ESDD) and can be mitigated via Environmental and Social Action Plan (ESAP) implementation and provision of adequate management resources to address identified E&S impacts. The Project is consistent with GET approach and Paris Aligned.

An independent ESDD has been undertaken to review current operations and status of previous ESAP implementation. New environmental and social due diligence included review of proposed site settings and associated environmental and social risks, considering cumulative impacts and associated auxiliary facilities for High Voltage grid connections. Particular focus has been on the site location and sensitivity, notably in terms of birds, bats and flora, which required thorough baseline biodiversity assessment, as well as overall land acquisition and use for the wind turbines and the associated infrastructure (transmission lines and roads). The ESDD also included a social review and review of the Project's supply chain arrangements. The review of current operations and proposed extension confirmed that the WPP site is not located near sensitive receptors and the ESDD confirmed that the Project will have limited impacts on flora and fauna and is not located or would impact a critical habitat.

A review was made also of monitoring data (including post construction avifuana studies) and the ESDD confirmed that the potential risk of collision and/or electrocution impacts from the turbines and power lines are not likely to be very significant as long as mitigation measures for collision and electrocution impacts are incorporated in the project design. These have been included in the Phase 1 and will be included in the extension.

Community and livelihood impacts were also analysed and it has been identified that they are mainly associated with increased traffic during construction and some visual impacts, which are considered negligible. Social, labour and safety aspects during construction and operation, were analysed and number of recommendations were presented to the EPC contractor in order to strengthen its institutional capacity to manage E&S risks during the construction and operational phases and deliver the Project in line with Bank's Performance Requirements (PRs).



Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
China Power International Holding Ltd Undisclosed Energy has unknown relation to Visor International DMCC Undisclosed Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Yernur Dzhiyenbayev
+7 727 355 88 44
+7 727 355 88 33
Republic of Kazakhstan, Zhambyl region, Zhanatas, Sarysy microdistrict 1, 2-4.


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

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