EBRD backs Kazakhstan solar developed by India's ACME

EBRD will award the proposed Kulan project, worth an estimated $51 million in total, $26 million for development costs. ACME will cover the remainder.

Kulan is to be located in Kazakhstan’s Zhambyl region, in the southern portion of the country.

Earlier this year, EBRD backed the Burnoye Solar 50MW project in the country by providing a 14.06 billion tenge ($80 million) to UK-based developer United Green Energy and Kazakh joint venture partner Samruk Kazyna Invest, the investment arm of Kazakhstan’s sovereign wealth fund.