EDB, Karagandy Energotsentr Sign $240M Deal to Expand CHPP-3, Boost Efficiency, and Reduce Emissions
The Eurasian Development Bank (EDB) and Karagandy Energotsentr have signed a $240 million, 13-year loan agreement to modernize and expand the Karagandy Combined Heat and Power Plant 3 (CHPP-3). The initiative aims to address critical electricity generation shortages and boost efficiency and reliability in the region.
The project, aligned with the UN Sustainable Development Goals and Environmental, Social, and Governance principles, will increase CHPP-3's generation capacity by 140 megawatts (MW) of electricity and 180 gigacalories (Gcal) per hour of heat. Upon completion, the expanded Karagandy CHPP-3 will become the largest combined heat and power plant in the country.
The EDB, with a charter capital of $7 billion and a history of fostering economic integration and sustainable development in Eurasia, will finance the expansion. The new power unit will feature advanced dust filtration systems and measures to reduce nitrogen, sulfur, and carbon oxide emissions, significantly mitigating the plant's environmental impact. The expansion is expected to ensure a reliable power supply to Kazakhstan's national energy grid and provide heat to new residential districts in the city.
The EDB's project portfolio spans key sectors, including transport, digital systems, green energy, agriculture, and manufacturing, demonstrating a commitment to comprehensive development. The modernization and expansion of Karagandy CHPP-3, set to become the country's largest combined heat and power plant, underscores this dedication to addressing critical infrastructure needs while promoting sustainability.
