EDB Invests $240 Million to Expand Power Plant in Karagandy, Kazakhstan.
EDB and Karagandy Energotsentr Sign $240 Million Loan Agreement to Expand Karagandy CHPP-3
ASTANA — The Eurasian Development Bank (EDB) and Karagandy Energotsentr have inked a $240 million, 13-year loan agreement to finance the modernization and expansion of the Karagandy Combined Heat and Power Plant 3 (CHPP-3). This initiative, announced by the EDB’s press service on Dec. 24, aims to bolster the plant’s generation capacity by 140 megawatts (MW) of electricity and 180 gigacalories (Gcal) per hour of heat.
Karagandy Energotsentr, a major electricity producer in the Karagandy Region and the district heating provider for the city, is leading the project. The expansion is set to ensure a reliable power supply to Kazakhstan’s national energy grid and deliver heat to new residential areas in the city, addressing critical electricity generation shortages and meeting the escalating demand while enhancing efficiency and reliability.
As part of the project, over 400 additional homes and social institutions will benefit from improved heat distribution, meeting stringent safety standards and environmental regulations. The new power unit at the CHPP-3 will incorporate cutting-edge energy and environmental technologies, adhering to Kazakhstan’s updated Environmental Code for new installations. These advancements include state-of-the-art dust filtration systems and measures to reduce nitrogen, sulfur, and carbon oxide emissions, thereby minimizing the plant’s environmental impact.
Vice Chairman of the EDB Management Board Ruslan Dalenov highlighted the significance of this project in modernizing the region’s energy infrastructure, with the expanded Karagandy CHPP-3 poised to become the largest combined heat and power plant in the country. Sabyrgali Idrisov, General Director of Kazakhstan Utility Systems, emphasized the broader impact of the project on the region’s future, emphasizing its role in enhancing energy supplies, improving environmental standards, and creating job opportunities.
The EDB, a multilateral development bank with a charter capital of $7 billion, has been actively promoting economic integration and sustainable development in Eurasia for over 18 years. Its project portfolio spans across key sectors such as transport, digital systems, green energy, agriculture, and manufacturing, aligning with the UN Sustainable Development Goals and Environmental, Social, and Governance principles.
