Kazakhstan to encourage investment in 'green' economy
Astana, 2 May / Trend D.Mukhtarov /
Kazakhstan will encourage investment in a 'green' economy at the legislative level, the Minister of Ecology and Environment Protection of the Republic of Kazakhstan Nurlan Kapparov told reporters on Thursday.
"A new law aimed at supporting investments in renewable energy development will come into force in mid-May," Kapparov said.
"In general, the climate for all investors in our country is good. However, the 'green economy' requires special conditions. There are a lot of technical issues and we need a law that guarantees a return on investment. In other words, the state must guarantee to buy the energy that will be produced from the output from the sun or wind," the minister said.
According to him, the government of Kazakhstan is developing a new bil, which will define all the guarantees for the purchase of energy produced from renewable sources.
"We have adopted the German model as a basis. This is a so-called law on fixed fees. It is eagerly awaited by many foreign investors, including Western and Asian companies," Kapparov said.
As previously reported, Kazakh President Nursultan Nazarbayev set the task to receive 50 per cent of the country's energy from renewable sources by 2050.