BAKU, Azerbaijan, Dec. 4
Kazakhstan will timely fulfill its obligations under UN Climate Change Conference (COP26), Prime Minister of Kazakhstan Askar Mamin said at the meeting of the Council for the Improvement of the Investment Climate (CIC), Trend reports citing the press service of the Prime Minister of Kazakhstan.
Issues of the development of renewable energy sources and the transition of Kazakhstan to a low-carbon economy were considered within the framework of implementation of Kazakhstan's commitments following COP26.
Mamin noted that at the Summit of World Leaders of COP26 in Glasgow (Scotland), Kazakhstan announced its goal to increase the volume of energy from renewable sources by five times, from 3 percent to 15 percent by 2030, increase the absorption potential by planting over two billion trees, and ensuring that the Kazakhstan is carbon neutral by 2060.
He stressed that Kazakhstan has taken a number of measures to improve the investment environment in order to attract foreign capital and advanced technologies to the development of alternative energy.
As a result, in 2020, 25 renewable energy projects were commissioned with a total capacity of almost 600 MW. The volume of investments exceeded $510 million. By the end of 2021, 22 projects with a total capacity of 450 MW will be commissioned, attracting $445 million in investments.
In addition, over the next four years, it is planned to commission more than 60 new renewable energy projects with a total capacity of 2,400 MW and an investment volume of more than $2.5 billion.
In addition, Mamin noted that the signing of an agreement on strategic cooperation between Samruk-Kazyna JSC and the sovereign fund - Abu Dhabi Developmental Holding Company (ADQ) on December 1 in Dubai will further increase investments in the modernization of the energy sector and the development of renewable energy sources in Kazakhstan, as well as investment documents for the construction of solar and wind power plants in the Republic of Kazakhstan with a total capacity of 4GW.
“In general, by 2030 Kazakhstan plans to commission more than 180 renewable energy projects with a total capacity of 9 GW,” he said.