BAKU, Azerbaijan, October 1. A solar power
plant park has been launched in Kazakhstan’s Kyzylorda Region, with
the Development Bank of Kazakhstan JSC (DBK), a subsidiary of
Baiterek Holding, providing financing for the project, according
the bank's statement today.


Representatives of DBK attended the official opening ceremony of
the solar power plant park.


According to the company, to implement the project, DBK provided
VIGOR Holding LLP with 104 million Chinese yuan (about $14.6
million) in financing under a Credit Line Agreement. The funds were
used for construction and installation works, as well as the
purchase and installation of equipment.


“With the Bank’s support, 70 MW of new solar generation capacity
will be created, with planned annual electricity generation of
115.5 million kWh. The facility will be commissioned in stages. The
Shieli-1 SPP project includes the 20 MW plant opened today. The
project also envisages the development of the 20 MW Shieli-2 SPP,
equipped with an electricity storage system (ESS), and the 30 MW
Zhanakorgan SPP,” DBK said.


According to the company, the use of ESS technology will make it
possible to store part of the electricity during periods of high
generation and feed the stored energy into the grid. This will help
ensure a more consistent power output profile, reduce peak loads on
the electricity grid and improve the operational stability of the
facility.







Financing renewable energy projects is one of DBK’s priority
areas, in line with the global and national agenda on
decarbonization, sustainable development and Kazakhstan’s
transition to carbon neutrality.


Over the past 25 years, DBK has financed 218 investment projects
and 151 export operations worth a total of 19 trillion tenge (about
$43 billion). This has resulted in the launch of 151 new
enterprises across Kazakhstan and the creation of more than 38,000
jobs. In 2025 alone, the bank provided financing for 77 projects
worth 2.3 trillion tenge (about $5.2 billion).


The conversions were made at the exchange rate of $1 = 440.86
tenge, $1 = 6.72 CNY