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COVID-19 pandemic hits investments inflow in Kazakhstan's energy sector, spares renewables

Oil&Gas Materials 24 December 2020 15:27 (UTC +04:00)
COVID-19 pandemic hits investments inflow in Kazakhstan's energy sector, spares renewables

BAKU, Azerbaijan. Dec. 24

By Nargiz Sadikhova – Trend:

COVID-19 pandemic did not affect the investments inflow in Kazakhstan’s renewable energy sector, a source in Kazakhstan’s Ministry of Energy told Trend.

The ministry said that the decrease in investment inflow was avoided thanks to the modern technologies holding of open online auctions for new renewable projects.

At the same time, the ministry official said that the ministry has approved and published the schedule of holding online actions for 2020.

Based on the data approved in the schedule, the total capacity renewable projects, the right for implementation of which was decided on by holding these auctions amounted to 250 MW, with a breakdown by types of power plants:

- solar power plants - 55 MW;

- wind power plants - 65 MW;

- hydroelectric power plants - 120 MW;

The official also added that despite the fact that the COVID-19 pandemic did not affect investments in the renewable energy sector, the investment inflow in Kazakhstan’s overall energy sector was hit by the pandemic. Thus, the volume of investments in Kazakhstan’s energy sector was 1.4 percent less over 10 months of 2020 as compared to 10 months of 2019.

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Follow the author on Twitter: @nargiz_sadikh

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