EBRD Weighs $90 Million for Kazakhstan Hybrid Renewables

• EBRD eyes $90m loan for 127‑MW wind-solar hybrid in Kazakhstan’s Mangystau, backed by Plenitude and KazMunayGas, with CTF support; decision due Dec. 3, 2025.

The European Bank for Reconstruction and Development is weighing a $90 million senior secured loan to develop, construct and operate a 127‑MW hybrid renewables project in Kazakhstan, combining a 77‑MW wind farm and a 50‑MW solar plant in the Mangystau region. The borrower is a joint venture majority‑owned (51%) by Eni’s Plenitude, with NC KazMunayGas holding 49%.

The package may be complemented by up to $10 million from the Clean Technology Fund. Total project cost is estimated at $150 million. The EBRD is expected to decide on the transaction by Dec. 3, 2025, as Kazakhstan expands wind and solar capacity alongside existing assets.

Will the hybrid plant include battery storage to optimize grid integration and curtailment?

• Battery storage is under active evaluation with the grid operator; no final decision yet
  
• A co-located BESS is being considered to reduce curtailment, smooth hybrid output, manage ramp rates, and provide frequency and voltage support
  
• Preliminary concept favors an AC‑coupled system at the plant substation, integrated via a hybrid plant controller/EMS for coordinated dispatch of wind and solar
  
• Duration and power rating will be set by ongoing grid and curtailment studies; multi‑hour storage is among the options being assessed
• If pursued, storage could be procured in a phased approach, with commissioning potentially following the wind and solar CODs
• Concessional financing, including a potential tranche from climate funds, is being explored to improve the storage economics
• If not included at COD, the project will be “storage‑ready,” reserving space, interconnection capacity, and controls to enable a later retrofit