ADB, Samruk Energy ink $214m power deal in Kazakhstan
This will fund the replacement of ‘inefficient” coal-fired combined heat and power plant.
The Asian Development Bank (ADB) and Samruk-Energy JSC have signed a $214m loan to replace an “inefficient” coal-fired combined heat and power plant in Almaty, Kazakhstan.
The fund will be used to acquire combined cycle gas turbine units, expected to “significantly” cut the plant’s carbon emissions.
“Kazakh winters are long and cold and the heating season lasts for more than half a year,” said ADB Director General for Private Sector Operations Suzanne Gaboury.
“Replacing this coal-fired facility will deliver significant environmental and health benefits to the people of Almaty while addressing their needs for heating. Kazakhstan urgently needs decarbonization, and ADB financing will assist the country in achieving this transition.”
According to the ADB, the upgrade allows the plants to increase fuel efficiency by more than 20%, and significantly reduce carbon dioxide emissions and other air pollutants.
It also improves the city’s overall air quality, and ensures residents of Kazakhstan’s largest city can continue heating their homes through the winters.