Kazakhstan has attracted nearly $3.7
billion in green energy investments. The relevant documents, signed at the
COP29 global climate summit in Baku, include a memorandum of understanding
between the Kazakh Energy Ministry and the Asian Development Bank (ADB) on
cooperation in achieving carbon neutrality goals through the ADB’s Energy
Transition Mechanism. It aims to expand renewable energy use, improve energy
efficiency, and introduce new technologies in energy production. Another agreement
was signed with China, which involves renewable energy projects, with investors
set to build four facilities totaling 22 gigawatts by 2035. A company from the
UAE will also invest $1.5 billion in a new wind power plant in the Zhambyl
region.
«The availability of these technologies and
solutions in Kazakhstan will indicate real achievements toward reducing the
carbon footprint and advancing carbon-free development goals. Our agenda
includes renewable energy projects across wind, solar, biogas, and both small
and medium-sized hydroelectric power plants. Overall, this will create a
diversified portfolio,» said Kazakh Energy Minister Almasadam Satkaliyev.
Currently, 148 renewable energy sources
provide 6.6% of Kazakhstan’s electricity generation. Experts anticipate raising
this to 30% by 2030 and 50% by 2050.
«The expected electricity exports will
drive the growth of renewable energy sources throughout Kazakhstan, attracting
more investment. This is very good for the economy. Secondly, we are giving a
signal to both Kazakh businesses and foreign investors that opportunities for
developing these technologies are accessible in Kazakhstan. With a supportive
legislative and institutional framework, these projects can now be rapidly
scaled and made highly appealing,» noted Zhakyp Khairushev, managing director
of the Atameken National Chamber of Entrepreneurs.
