Posted on 29 December 2013 by Priyanka Shrestha
A London-based bank is supporting Kazakhstan’s drive to improve energy efficiency across its railways with a $40 million (£24m) loan.
The cash will help national railway company Kazakhstan Temir Zholy (KTZ) (pictured) finance new technologies to cut energy usage.
The project includes upgrading lighting systems to alternative heating solutions such as heat pumps, solar water heaters and boiler upgrades. It is expected to help the company cut its greenhouse gas emissions by 80,000 tonnes a year.
Phil Bennett, First Vice President of the European Bank for Reconstruction and Development (EBRD) said: “We are very pleased to be able to support the company’s ongoing efforts to save energy and to reduce greenhouse gas emissions. We have been working with KTZ to identify new opportunities for energy efficiency such as installation of LED lighting across more than 100 depots and stations and to finance their introduction.”
The EBRD has pledged to support Kazakhstan’s green economy strategy, which aims to reduce the energy intensity of the country’s economy by 10% by 2015, compared to 2008 levels.