Main drivers for renewable energy development in Kazakhstan named (Exclusive)

Oil&Gas Materials 21 August 2019 15:11 (UTC +04:00)

Baku, Azerbaijan, August 21

By Nargiz Sadikhova – Trend:

Enhanced international cooperation is an important measure in developing the renewable energy sector of Kazakhstan, the Ministry of Energy of Kazakhstan told Trend.

According to the source in the ministry, the formation of the renewable energy market is accomplished by collaborating with international financial institutes and organizations.

“Among them are the European Bank for Reconstruction and Development, Asian Development Bank, International Renewable Energy Agency, the World Bank, United Nations Development Program, USAID, National Renewable Energy Laboratory (US), Eni company, General Electric and Shell,” the source in the ministry said.

The source further noted that these institutions, organizations and companies provide the country with multidimensional support and cooperation to enhance the legislative base of the renewable energy sector taking into account the best international practices.

The source in the ministry also named the main sources of the foreign investments into the development of the sector.

“To date, the value of the sector’s funding is around $680 million. For the most part, these are investors from China, Germany, Italy, France, Spain, Russia, the Netherlands and US which expressed interest in constructing renewable energy plants in Kazakhstan,” the ministry's representative concluded.

Currently, there are 75 renewable energy sources operating in Kazakhstan, the total capacity of which amounts to 683.6 MW. Construction of 17 new renewable energy sources is planned in Kazakhstan in 2019, seven of which (with the capacity of 147.6 MW) have already been put into operation .


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