...

Kazakhstan Energy Ministry unveils investments volume in renewables sector

Oil&Gas Materials 9 February 2021 11:31
Kazakhstan Energy Ministry unveils investments volume in renewables sector

BAKU, Azerbaijan, Feb. 9

By Nargiz Sadikhova - Trend:

Some 626 billion tenge ($1.4 billion) of investments were attracted to the development of Kazakhstan’s renewable energy sector since the launch of the Financial Settlement Center of Renewable Energy LLP in 2009, Kazakhstan’s Minister of Energy Nurlan Nogayev said, Trend reports citing Kazakh media.

He noted that now nearly 81 billion tenge ($192.3 million) of taxes will be paid from the constructed renewable energy facilities.

Nogayev added that over the last several years work has been carried out to attract investments in the renewables sector by signing a number of agreements and memorandums with international financial institutions and organizations in the amount of about 240 billion tenge ($613 million).

“Investors from 10 countries of the world, as well as large financial institutions such as European Bank for Reconstruction and Development, Asian Development Bank, Asian Infrastructure Investment Bank, Development Bank of Kazakhstan, are now working in the green energy sector. Also, large oil companies such as Eni, Total participated in several projects as investors, and have already implemented projects in Kazakhstan and have plans for the further development of renewable energy projects,” the minister said.

The creation and development of the Financial Settlement Center of Renewable Energy LLP are associated with the adopted course of the Republic of Kazakhstan on the development of the renewable energy sector (RES).

In order to create conditions for the development of the RES sector, there was an adoption of the mechanism of state support based on the implementation of a centralized purchase of renewable electric energy by a single buyer.

---

Follow the author on Twitter: @nargiz_sadikh

Tags:
Latest

Latest