Risen Energy Gets Financing from EBRD for 63MW Solar Project in Kazakhstan

The construction of the greenfield 63 MW solar project will kick off in the month of September and is expected to be completed in June next year.

Chinese solar panel maker Risen Energy has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for financing the construction of a 63 MW solar project in Kazakhstan.

Further, the construction of the greenfield 63 MW solar project will kick off in the month of September and is expected to be completed in June next year, with an average annual power capacity projected to reach 108,719 MWh after being put into operation.

Commenting on the development, Risen Energy, Director, Project Finance and Investment, Zhang Jieling said, “The partnership with EBRD opens a new chapter for Risen Energy’s international project financing plan as it represents both a qualitative leap for and a significant step in the company’s international expansion strategy. Ties with international multilateral organizations such as EBRD provide the company with a valuable opportunity to enhance its competence in and strategy for the development, financing and technology services of international projects.”

Earlier this year, both the companies had signed another mandate letter for financing of Risen Energy’s 40MW solar project, also in Kazakhstan. Cooperation with EBRD will support Risen Energy in entering Kazakh solar market and becoming the first Chinese PV firm to build solar power stations in the country.