KKM’s Funds support the green energy project

DBK Equity Fund C.V and Baiterek Venture Fund, subsidiaries of Kazyna Capital Management decided jointly to invest in the project for construction of the wind power plant in Akmola region.

DBK Equity Fund C.V and Baiterek Venture Fund, subsidiaries of Kazyna Capital Management decided jointly to invest in the project for construction of the wind power plant in Akmola region. Its capacity is 50 MW per year. CAPEC Green Energy LLP is the operator of the project.

The relevant co-investment agreement was signed by DBK Equity Fund C.V and Baiterek Venture Fund in Astana. Total investment of two Funds will amount to KZT3.6 bln. As expected the construction will be completed in 2Q2019. Vestas is one of the largest manufacturers of wind power generators in the world.

“Our Funds managed to complete the synergy already at this stage. Apart from the risk allocation between the Funds, Baiterek Venture Fund is responsible for the technical expertise of the project while DBK Equity Fund completed the financial and economic analysis. The project is economically attractive based on several aspects: construction in Akmola region is advantageous geographically; there are high wind potential and energy consumption growth in the region. This is also the contribution of KCM to the implementation of the concept of the country’s transition to the green economy, where the President Nursultan Nazarbayev set the task to increase the share of alternative energy up to 30% by 2030”, said Askar Dostiyarov, Chairman of the Management Board of Kazyna Capital Management JSC.

“The wind station project implemented by CAPEC Green Energy is of strategic importance for the development of renewable energy in the country. The new wind park near Astana along with the current 45 MW station in Ereimentau demonstrates the economic, technological viability and prospects of the new energy as well as provides for the national energy safety in the future”, said Arman Kashkinbekov, Deputy Chairman of the Management Board of International Center for Green Technologies and Investment Projects Non-commercial Joint-Stock Company.

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