News Kazakhstan

News Kazakhstan16.02.2024

Sustainable aviation future. EBRD acquires minority stake in Air Astana

QAZAQ GREEN. The European Bank for Reconstruction and Development (EBRD) has invested US$ 41.99 million (€39.02 million) into shares of Kazakhstan’s flagship carrier, Air Astana, supporting the country’s first partial privatisation through an initial public offering (IPO). The EBRD’s investment represents a 5 per cent shareholding in Air Astana, according to the Bank.

The shares will be listed on both the London Stock Exchange and the Kazakhstan Stock Exchange.

The IPO funds, including the Bank’s investment, will be deployed to support Air Astana’s fleet expansion and renewal programme, the construction of an aircraft maintenance facility and the acquisition of a flight simulator.

Air Astana will be aiming to expand its current fleet to 80 aircraft by 2028 by acquiring new fuel-efficient planes.

The IPO is a significant privatisation benchmark for Kazakhstan’s economy, which is predominantly controlled by the state. The reduction of the state’s ownership to less than 50 per cent, which will be achieved through the IPO, sets an important precedent for the country and the region. The participation of the EBRD (a AAA-rated investor) in the IPO will give additional confidence to institutional and private investors looking at opportunities in Kazakhstan and Central Asia.

The EBRD, which became fully aligned with the Paris Agreement at the start of 2023, will be working with Air Astana, a regional corporate leader in sustainability, towards achieving its target of becoming carbon neutral by 2050. The Bank will also use this opportunity to play a greater role in the decarbonisation of aviation and to assist in setting up the sustainable aviation fuels industry in Central Asia.

With €10 billion invested in the country to date through 317 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.

19.04.2024
Australia has planned a 1 GW hydroelectric power plant at former coal pit
19.04.2024
Apple ramps up investment in clean energy and water around the world
18.04.2024
Two countries in Europe are powered by 100% renewable energy as wind capacity soars
18.04.2024
IRENA’s report: Transition to renewables calls for new approach to energy security
17.04.2024
New wind power plant to be built in Baku
16.04.2024
Cost of bringing wind power plants into operation drops by more than one-third
16.04.2024
Energy ministers and leaders to discuss the future of renewable energy in Abu Dhabi
16.04.2024
Hungary boasts the EU's largest geothermal system
15.04.2024
EC adoped of the strengthened Energy Performance of Buildings Directive
15.04.2024
90-GWh thermal energy storage facility could heat a city for a year
12.04.2024
Europe embraces speedier, riskier way of building power grids
12.04.2024
Former SpaceX, General Motors engineers turn to space-based solar power
12.04.2024
The US just beat its goal to permit 25 GW of clean energy by 2025
11.04.2024
New quantum material boosts solar cell efficiency to 190%
10.04.2024
Astana hosted seminar of the USAID project “Energy of Central Asia”
10.04.2024
Uzbekistan launches 500 MW PV plant in Jizzakh province
10.04.2024
GIZ and RES School: training specialists for the energy transition in Karaganda
09.04.2024
US unveils USD 20bn of awards under Greenhouse Gas Reduction Fund
09.04.2024
In Tajikistan, all new houses will be equipped with solar panels
09.04.2024
The top 40 most environmentally friendly cities in the world