Kazakhstan loan to improve renewables and logistics infrastructure

The European Bank for Reconstruction and Development (EBRD) is lending up to €25mln to Sarens Kazakhstan.

The aim is to expand operations in heavy lifting, engineered transportation and installation.

The project will help meet growing demand for industrial infrastructure in the renewable energy and logistics sectors in Kazakhstan and across Central Asia.

The equipment is expected to enable the installation of at least 11.75GW of additional wind capacity. Thus aiding the government’s plan of bringing the share of renewables in the country’s total energy output to 15% per cent by 2030.

Sarens Kazakhstan is a fully owned subsidiary of Sarens Group, a family-owned multinational company headquartered in Belgium. The funds will be used to acquire high-capacity cranes, a fleet of trailers and other specialised vehicles and to finance the company’s working capital needs.

The project will also help to develop logistics infrastructure related to the Trans-Caspian Corridor, a key element of sustainable transport connections between Europe and Central Asia.