We use cookies to give you the best possible experience on our website. By continuing to browse this site or by choosing to close this message, you give consent for cookies to be used. For more details please read our Cookie Policy.

EBRD to spend $27m on heat meters in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) will finance the installation of heat meters in Kazakhstan to the value of 9 billion tenge ($27 million), the bank has announced. The financing comes as part of the bank's Green Economy Transition (GET) approach - helping raise the standard of HVAC equipment used in the countries the EBRD operates in.

"The loan will allow the State Fund for Housing and Utilities Development to install heat meters in individual residential buildings and later start a pilot phase for installing individual heat units and automated electricity metering systems", the bank said in a press release.

The new meters will provide additional savings of heat and electricity in Kazakhstan, which is one of the most energy-intensive economies the EBRD works in. This will allow heating companies to optimise supply and reduce system losses. Kazakhstan’s CO2 emissions per GDP unit amount to 0.6 kg per $1, roughly three times higher than the EU average - meaning HVAC equipment from international suppliers is very much in demand.

The credit agreement was signed in Astana by Janet Heckman, Managing Director of the EBRD in Kazakhstan, and Qaysay Baydaly, Acting Chairman of the Board of the Fund of Housing and Utilities Development (ZhKH).

"This project has an ambitious goal to ultimately reach full heat meter coverage in the country; measuring the use of energy is key for saving it," said Heckman. "We are also continuing our policy engagement with the government on sector reforms.”

Technical assistance projects will be financed by the EBRD Shareholder Special Fund and the Fund for Housing and Utilities Development of Kazakhstan. 

"While metering has already reached high levels in water and electricity, heat meters currently cover only about 45% of households, varying greatly from region to region. The EBRD-supported project will achieve above 80% coverage in the next 2-3 years with the ultimate strategic goal to achieve full coverage country-wide," according to the press release. 

The European Bank of Reconstruction and Development is an international financial institution which backs projects in 35 countries from Central and South-Eastern Europe to Central Asia. The EBRD has committed 80 million euros ($87 million) in 6 modernisation projects in the district heating sector in Kazakhstan. To date, the bank has invested around $7.5 billion USD in the Kazakh economy.

It's not just outside sources that are driving HVAC investment in Kazakhstan, though. Housebuilding in the country is continuing at a healthy rate as the oil price stabilises - again showing a sharp rise in 2016 - and the Nurly Zhol state spending programme will put enormous amounts of capital into developing Kazakhstan's economy. From its launch in late 2014 to conclusion in 2019, the programme will put around $9 billion into Kazakhstan - much of it focused on the construction market.

Looking to do business in Kazakhstan's HVAC market? Aquatherm Almaty, held each September in Kazakhstan's capital, is the country's leading exhibition for heating, ventilation, water supply, sauna and pool, and all other areas of the utilities market. If you'd like to see what the event can do for your company, click here for more information.
 

Related Events

Event05 Sep

KazBuild Almaty ..

5-8 September, 2017
KAZAKHSTAN

ALMATY, KAZAKHSTAN
Venue: ATAKENT EXHIBITION CENTRE

Want news like this in your inbox?