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The construction of a small hydroelectric power plant (HPP) has been completed on the Turgusun River in the Altai region of the East Kazakhstan region. The total cost of the project is 13.39 billion tenge. Financial support was provided by the Development Bank of Kazakhstan (DBK). In particular, DBK structured the deal in the amount of 9.6 billion tenge:
- 5 billion in the form of a long-term loan for a period of 12 years was provided by DBK;
- 3.6 billion tenge in the form of leasing for the purchase of equipment was provided by a subsidiary of DBK – Industrial Development Fund JSC;
- 1 billion tenge in the form of a loan was provided by AOM Rail BV, a member of DBK Equity Fund, a subsidiary of DBK managed by Kazyna Capital Management JSC;
- The remaining funds in the amount of 3.8 billion tenge – the Borrower’s own participation.
The project is being implemented within the framework of the second five-year industrialization plan.
DBK is one of the first financial institutions in the country and the region, which began to build up competencies in financing renewable energy projects (RES), said Duman Aubakirov, Deputy Chairman of the Board of DBK JSC for credit activities.