A consortium of strategic investors completed the acquisition of a 75% stake of KazPV project from Kazatomprom.

Yadran Solar, a solar energy company, ECM Greentech, a manufacturer of silicon growth furnaces, and Kasen/Canadian Solar, a solar energy provider, completed the acquisition of a 75% stake in KazPV project, which consists of Astana Solar, Kazakhstan Solar Silicon and KazSilicon MC, from Kazatomprom, a multinational resource extraction company. Financial terms were not disclosed. The Consortium will maintain the companies business profile, staff numbers and current salary levels, as well as perform to the companies’ existing contracts. As per the contract, in three years time, the Consortium will also purchase from Kazatomprom the remaining 25% ownership interest in the KazPV project.