The European Bank for Reconstruction and Development (EBRD) is considering providing a loan of up to €50 million to help finance the rehabilitation of the 100 MW Shardara hydro plant on the Syrdarya river in southern Kazakhstan. The modernization project is estimated to cost around €76 million. The senior ten-year amortizing loan would be provided to JSC Shardarinskaya GES, the owner and operator of the hydropower plant. The company is wholly owned by Samruk Energy, a power sector subsidiary of the National Welfare Fund Samruk Kazyna.
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