The European Bank for Reconstruction and Development (EBRD) is helping to meet growing demand for industrial infrastructure in the renewable energy and logistics sectors in Kazakhstan and across Central Asia by supporting the operations of Sarens Kazakhstan, the bank announced. The EBRD’s loan of up to €25 million (in KZT equivalent) to Sarens Kazakhstan, a fully owned subsidiary of Sarens Group, a family-owned multinational company headquartered in Belgium, will help the firm expand its integrated engineering solutions for operations in heavy lifting, engineered transportation and installation.
The funds will be used to acquire high-capacity cranes, a fleet of trailers and other specialized vehicles and to finance the company’s working capital needs. The equipment to be bought with the EBRD loan is expected to help install at least 11.75 GW of additional wind capacity. This will contribute to the government’s plan of bringing the share of renewables in the country’s total energy output to 15 percent by 2030.
The project will also help develop logistics infrastructure related to the Trans-Caspian Corridor, a key element of sustainable transport connections between Europe and Central Asia. This long-term loan offers a longer maturity currently unavailable from local commercial banks.
The EBRD has invested almost €10.3 billion in Kazakhstan across 342 projects, with most of the funds supporting private entrepreneurship.
