In order to participate in the auction for the selection of renewable energy projects and projects for waste-to-energy (hereinafter - WTE) in accordance with the provisions of the Rules of organizing and holding auctions, including qualification requirements for auction participants, the content and procedure for submitting applications, types of financial guarantee for participation in auctions and conditions of their deposit and return, the procedure for summing up the results and determining the winners (hereinafter - the Auction rules), the applicant must provide financial guarantee for the application for participation issued in favor of the financial settlement center.
The Applicant chooses one of the following types of financial guarantee for the application for participation in the auction issued with the SWIFT system:
The amount of the financial guarantee for the application for participation in the auction is calculated by the applicant independently. The size of the financial guarantee is:
Note*. For example, you’re planning to participate in the renewable energy auction with a solar power plant project with a capacity of 50 MW, then the amount of the financial guarantee for the application for participation in the auction will be:
50,000 (kW) * 2,000 (tenge / kW) = 100,000, 000 tenge
The financial guarantee must be valid for at least 150 (one hundred and fifty) calendar days from the date of the auction and must be irrevocable
In order to receive the financial guarantee for the application for participation in the auction, the Applicant independently chooses the Bank where he will obtain the financial guarantee for the application for participation in the auction. Please, note that in accordance with par. 49 of the Auction rules a bank guarantee or a standby letter of credit to secure the application for participation in the auction are accepted:
At the same time, a bank guarantee or a standby letter of credit from non-resident banks of the Republic of Kazakhstan must be confirmed by resident banks, by issuing a counter-guarantee for non-residents obligations under subparagraph 1) of this paragraph**
Note**. When applying to the Bank in order to obtain the financial guarantee for the application for participation in the auction, be sure to check the compliance of the chosen Bank with the criteria specified in par. 49.of the Auction rules. In case the chosen Bank does not comply with the requirements you will not be eligible to participate in the renewable energy auction.
The financial guarantee for the application for participation in the auction is issued in favor of the financial settlement center and is provided to the center no later than 2 (two) working days before the date of the auction
After obtaining the financial guarantee for the application for participation in auction, the applicant must advise the issued financial guarantee for the application for participation in the auction in the following partner bank of the "Financial Settlement Center for the Support of Renewable Energy Sources" LLP:
All bank commissions and expenses related to the financial guarantee for the application for participation in the renewable energy auction and WTE, including those of the beneficiary's Bank, are paid by the applicant
The financial guarantee for the application for participation in the auction, submitted by the applicant in the form of a bank guarantee or a standby letter of credit, is returned within 3 (three) working days from the date the participant sends a written request to the financial settlement center when one of the following occurs:
If the winner of the auction has evaded the conclusion of the PPA, the financial settlement center shall issue a claim for payment under the relevant bank guarantee or a standby letter of credit
Below you can download a sample form of a bank guarantee (a standby letter of credit) for participation in the renewable energy auction and WTE
For the purposes of processing the financial guarantee for the application for participation in the auction, we give the details of the "Financial Settlement Center for the Support of Renewable Energy Sources" LLP:
Legal address: Legal Address: 010010, Tauelsizdik Ave., 59, Nur-Sultan, Kazakhstan
Tel./Fax: +7 7172 69 01 06
BIN 130840019312
Certificate of registration for VAT Series 62001 No. 0020007 dated 11.12.13.
In this section of the site you can familiarize yourself with the commercial offers for bank guarantees/standby letters of credit from the largest commercial banks of the Republic of Kazakhstan:
