Asian Infrastructure Investment Bank Invests $36 Million to Power Kazakhstan’s Green Economy – The Astana Times
Asian Infrastructure Investment Bank Invests $36 Million to Power ... Astana Times
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The Asian Infrastructure Investment Bank (AIIB) Finalizes $36 Million Loan Agreement for Wind Power Plant in Kazakhstan
The Asian Infrastructure Investment Bank (AIIB) has recently concluded a significant $36 million loan agreement for the development, construction, and operation of the Shokpar 100 MW Wind Power Plant in the Zhambyl Region of Kazakhstan. This project aims to contribute to the country’s renewable energy capacity and aligns with the Sustainable Development Goals (SDGs).
Partnership and Financing
The Shokpar Wind Power Plant project is a collaborative effort between China Power International Holding and Visor International DMCC, with co-financing from the European Bank for Reconstruction and Development. In addition to the AIIB’s loan, the project will receive $10 million in concessional financing from the Green Climate Fund and an extra $5.7 million from the Clean Technology Fund.
Impact on Renewable Energy and Emissions Reduction
The construction of the Shokpar Wind Power Plant represents a significant step towards developing renewable energy in Central Asia. Once fully operational, the plant is expected to reduce greenhouse gas emissions by over 200,000 tons of carbon dioxide-equivalent annually on average. This aligns with SDG 7: Affordable and Clean Energy and SDG 13: Climate Action.
AIIB’s Support for Kazakhstan’s Green Economy
Konstantin Limitovskiy, the AIIB’s Vice President for Investment Operations, emphasized the institution’s support for Kazakhstan’s transition to a green economy. He stated, “This project aligns seamlessly with AIIB’s Energy Sector Strategy and priorities. It will further strengthen Kazakhstan’s renewable energy infrastructure and reduce the carbon intensity of its energy supply.”
Previous Wind Power Project and AIIB’s Role
The Shokpar Wind Power Plant project follows the successful implementation of the Zhanatas Wind Power Plant, a 100 MW facility located on an adjacent land plot. AIIB approved the Zhanatas project in 2019, and all its 40 turbines have been fully operational since 2021. These projects demonstrate AIIB’s commitment to financing sustainable infrastructure projects and promoting renewable energy.
About the Asian Infrastructure Investment Bank (AIIB)
The AIIB is a multilateral development institution that focuses on financing sustainable infrastructure projects. With 109 approved members globally, the AIIB collaborates with partners to meet clients’ infrastructure needs, particularly in green and technology-enabled projects that promote regional connectivity. The institution has a capitalization of $100 billion and holds a Triple-A rating from major international credit agencies.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | The construction and operation of the Shokpar 100 MW Wind Power Plant will contribute to increasing the share of renewable energy in Kazakhstan’s energy mix. |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | The project’s aim to reduce greenhouse gas emissions aligns with integrating climate change measures into Kazakhstan’s national policies and strategies. |
| SDG 17: Partnerships for the Goals | 17.16: Enhance the global partnership for sustainable development | The collaboration between the Asian Infrastructure Investment Bank (AIIB), China Power International Holding, Visor International DMCC, the Green Climate Fund, and the Clean Technology Fund demonstrates a global partnership for sustainable development. |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
The issues highlighted in the article are connected to SDG 7: Affordable and Clean Energy, SDG 13: Climate Action, and SDG 17: Partnerships for the Goals.
2. What specific targets under those SDGs can be identified based on the article’s content?
Based on the article’s content, the specific targets identified are:
- Target 7.2: Increase the share of renewable energy in the global energy mix
- Target 13.2: Integrate climate change measures into national policies, strategies, and planning
- Target 17.16: Enhance the global partnership for sustainable development
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
The article mentions indicators that can be used to measure progress towards the identified targets:
- The construction and operation of the Shokpar 100 MW Wind Power Plant will contribute to increasing the share of renewable energy in Kazakhstan’s energy mix, which can be measured by tracking the percentage increase in renewable energy generation.
- The aim to reduce greenhouse gas emissions can be measured by tracking the actual reduction in carbon dioxide-equivalent emissions achieved by the fully operational wind power plant.
- The collaboration between multiple organizations and funds demonstrates a global partnership for sustainable development, which can be measured by assessing the level of cooperation and financial support provided by each partner.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | The construction and operation of the Shokpar 100 MW Wind Power Plant will contribute to increasing the share of renewable energy in Kazakhstan’s energy mix. |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | The project’s aim to reduce greenhouse gas emissions aligns with integrating climate change measures into Kazakhstan’s national policies and strategies. |
| SDG 17: Partnerships for the Goals | 17.16: Enhance the global partnership for sustainable development | The collaboration between the Asian Infrastructure Investment Bank (AIIB), China Power International Holding, Visor International DMCC, the Green Climate Fund, and the Clean Technology Fund demonstrates a global partnership for sustainable development. |
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Source: astanatimes.com
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