Baku, Azerbaijan, Apr. 11
By Elena Kosolapova – Trend:
Kazakhstan’s Government approved a new formula for renewable energy tariffs, the Kazakh Energy Ministry said in a message Apr. 11.
The new formula should help support development of renewable energy in the country.
The ministry noted that fixed tariffs for renewable energy sharply decreased in terms of foreign currencies (dollar, euro) after the shift to freely floating exchange rate of the national currency.
This situation had a negative impact on implementation of a number of renewable energy projects and jeopardized further investments in this sector.
According to the new formula, if the exchange rate of the national currency changes by 25 percent or more in a one-year period, the renewable energy tariffs will be changed considering inflation and changes in the exchange rate every Oct. 1.