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Kazakhstan to manufacture solar panels with help of foreign investors

Business Materials 27 May 2019 15:46 (UTC +04:00)

Baku, Azerbaijan, May 27

By Nargiz Sadikhova - Trend:

KazAtomProm and investors from China, France and Russia created a consortium to build a solar energy cluster in Kazakhstan, Trend reports referring to press office of Kazakh Invest.

Saparbek Tuyakbayev, the CEO of Kazakh Invest, stated that the global demand for solar panels is increasing, whereas the production costs have decreased.

"The project has almost been developed, but we are still looking into the possibilities for cost reduction and competitiveness", he said. “Currently, the prices of solar panels from China are the lowest, which is why we invited attracted one of the China’s largest solar panels producers to participate in the project.”

The cluster is to be launched by 2020. At the beginning, there is a possibility that the body of the panels will be manufactured instead of the solar panels themselves.

“After that, we will consider [options for] exporting the products to Uzbekistan due to the country’s growing energy shortage. The country has plenty of sun, and there is a great potential. Furthermore, Arab countries are also actively looking into switching to solar energy," added Saparbek Tuyakbayev.

Furthermore, the issue of manufactured energy storage is high on the agenda.

The global forecasts suggest that within next 10-15 years, the world will predominantly use alternative energy sources.

(1USD = 379.49 KTZ on May 27)

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