Risen Energy Co., Ltd. signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for financing construction a 63MW solar project in Kazakhstan during the 27th annual meeting of EBRD held on May 10, 2018 in Jordan.
Construction of the greenfield 63MW solar project will start in September and is scheduled to be completed in June 2019, with an average annual power capacity projected to reach 108,719 MWh after being put into operation.
Earlier this year, EBRD and Risen Energy 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.
“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,” said Zhang Jieling, director of project finance and investment at Risen Energy.