KEGOC secures KZT141 billion funding for West Kazakhstan project
Author: PPD Team Date: December 16, 2024
Kazakhstan Electricity Grid Operating Company (KEGOC) has signed loan agreements with the European Bank for Reconstruction and Development (EBRD) and the Development Bank of Kazakhstan for a total of KZT141 billion. Of this, up to KZT32 billion is from the Development Bank of Kazakhstan.
The funds will support the West Kazakhstan Electricity Interconnection Project, which includes constructing the 604.3 km, 500 kV Karabatan–Ulke transmission line along the Atyrau-Aktobe motorway, expanding the 500 kV Ulke substation, and building 500 kV outdoor switchgear at the Karabatan substation.
The EBRD’s support includes EUR267 million, featuring a EUR15 million soft loan from the Canadian government under the High Impact Partnership on Climate Action program.
The project aims to connect the Western zone to Kazakhstan’s unified energy system, enhancing energy security in the region and enabling flexible generation to address electricity imbalances across the country.