Kazakhstan Electricity Grid Operating Company (KEGOC), has signed a loan agreement with the european bank for reconstruction and development (EBRD), as well as an agreement on opening a credit line with the development bank of Kazakhstan.
The total amount of the two loans is KZT141 billion, of which up to KZT32 billion would be from the development bank of Kazakhstan. The funds will be utilised for implementing the West Kazakhstan Electricity interconnection project. This includes the construction of the 604.3 km, 500 kV Karabatan–Ulke line (along the Atyrau-Aktobe motorway), rehabilitation and expansion of the 500 kV Ulke substation, as well as the construction of 500 kV outdoor switchgear at the Karabatan substation. EBRD’s financial support of EUR267 million includes a EUR15 million soft loan from the Canadian government under the programme – high impact partnership on climate action. The interconnection of the Western zone with the main part of the unified energy system of Kazakhstan will ensure energy security for the western region, and also allow the use of flexible generation in the Western Zone to compensate for imbalances in electricity and capacity in the Northern and Southern Zones of the energy system.