Company secures a US$ 60 million investment loan from BCC for green projects

Solidcore Resources plc (“Solidcore” or the “Company”) and Kazakhstani Bank CenterCredit (“BCC”) have entered into an agreement for a 7-year loan facility of up to US$ 60 million to finance the construction of solar and gas piston power plants at the Company’s operations.

We are pleased to partner with Bank CenterCredit, which shares our commitment to sustainable development and supports our key green energy initiatives. The loan facility marks Solidcore’s first transaction in the debt financing market following the rebranding of the Company and the refreshed strategy launched last year. We are looking forward to a productive partnership with BCC and other financial institutions as we work to implement the Company’s ambitious strategic projects", said Evgenia Onuschenko, CFO of Solidcore Resources plc.

Green energy development projects are a key element of Solidcore’s strategy to reduce the carbon footprint of the Company and contribute to Kazakhstan’s decarbonisation goals. The funds received from BCC will be used to finance the construction of a 23 MW solar power plant and a 40 MW gas piston power plant at Varvara, as well as the construction of a 17 MW solar power plant at Kyzyl (the latter will be considered by the Board this year). The power plants are expected to be launched in 2026. Once operational, they will replace purchased electricity generated primarily by coal power plants, and thereby reduce the Company’s emissions by 27% compared to 2023, minimise reliance on external energy sources, and help mitigate the risk of rising electricity tariffs.

About Bank CenterCredit

Bank CenterCredit JSC is one of the largest banks in Kazakhstan, established in 1998. The bank serves more than three million individuals and business clients. BCC operates in accordance with environmental standards, invests in socially responsible projects and follows high standards of corporate governance. The bank received the highest ESG score in the S&P Global CSA among Kazakhstan-based financial institutions in 2024.