Acquisition opportunity: Kazakhstan-based developer seeks to sell 400 MW renewable portfolio in the country

Asset Details: The portfolio comprises eleven solar projects totaling 350 MW in southern and central Kazakhstan and one 50 MW wind project in the country's north. Approximately 300 MW of the solar capacity is currently operational, while the remaining solar projects and wind farm are anticipated to begin commercial operation in 2023. Long-term power purchase agreements (PPAs) are in place for the sale of the produced electricity. The portfolio generated $25mn in revenue during the first three quarters of 2022, with an EBITDA margin of 85%. The annual revenue from the portfolio is expected to increase significantly in the coming years, reaching ~$76mn by 2030, at an EBITDA margin over 90%. As of Sep'22, the project-level debt associated with the portfolio stands at $235mn.

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