Signing of the Credit Agreement

On July 9, 2024, a significant event took place for the development of energy engineering in the renewable energy sector of Kazakhstan. Almaty Finance approved and signed a credit agreement with “Altyn Group” LLP (part of “TechnoGroupService” LLP) to finance the construction of a photovoltaic module (PV) manufacturing plant. This agreement provides the necessary support for accelerating the construction work and commencing production, which is scheduled for December 2024.

The Akimat of Almaty allocated a land plot of more than 2 hectares for the plant's construction, ensuring a convenient logistical location for the supply of raw materials and the shipment of finished products to potential clients in Kazakhstan and neighboring countries. The project aims to increase the share of renewable energy in Kazakhstan's total electricity generation. Currently, the share of renewable energy stands at 5.8%, with plans to increase it to 16% by 2035.

The production capacity will be 150 MW per year, with plans to produce solar modules under the "TGS-Solar" brand with a capacity of over 585 W. The project will create more than 100 new jobs and will form a chain of Kazakhstani manufacturers of components and materials.