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17 june 2018

Hevel Group starts construction of the largest PV plant in Kazakhstan

Hevel Group started construction works on its 100 MW solar project named “Nura” in North Kazakhstan. Upon completion and commissioning in 2020 PV plant will be one of the largest in CIS.

Start of construction took place at the same time as Hevel’s subsidiary, operating in Kazakhstan, announced to sign several deals to acquire stakes in local companies that resulted in increase of Hevel’s portfolio up to 178 MW.

Assets acquisition and construction works are financed with own funds as well as with debt financing secured by Eurasian Development Bank.

“For construction of solar projects we would use our own heterojunction 375 W bifacial solar modules as well equipment of other suppliers. We are seeking to further expansion of our portfolio in Kazakhstan, said Hevel Group’s CEO Igor Shakhray.

Construction of PV plants is scheduled to complete by 2020, connected solar parks will feed United power system of Kazakhstan.

This year Hevel is going to start construction works at 50 MW and 20 MW solar projects in south regions of Kazakhstan. The company was awarded both PV plants at the bidding round in 2018.