Azernews.Az

By Kamila Aliyeva

Kazakhstan may attract private investment worth up to 480 million euros from international financial institutions for the implementation of projects on renewable energy sources (RES), Kazinform reported.

This was stated by Kazakh Energy Minister Kanat Bozumbayev during a round table on the theme “Heritage of EXPO-2017” in Kazakhstan.

"On June 21, in the presence of the Prime Minister of the country, a memorandum of understanding on cooperation and support for the development of renewable energy in Kazakhstan between the Ministry of Energy and the EBRD [European Bank for Reconstruction and Development] was signed. The EBRD plans to invest up to 200 million euros in RES projects in the coming year, with the possibility of attracting private investments and financial injections of other international financial institutions for a total of up to 480 million euros," he noted.

He recalled that this summer the International Specialized Exhibition EXPO-2017 was held with great success. Within the framework of the exhibition, the Ministerial Conference entitled “Ensuring Sustainable Energy Development” was held on June 11. During the event, an agreement on cooperation and support for the project ‘Construction of a 50 MW SES-2 power plant in Zhualy district of Jambyl region’ was signed between the Kazakh Ministry of Energy, the EBRD and Burnoye Solar-2 LLP.

Also, a memorandum of understanding and cooperation in the field of implementing projects for the development of renewable energy sources between the Kazakh Ministry of Energy, the companies of Eni International B.V. and General Electric International Inc. was signed.

This agreement will make it possible to build a wind power station with a capacity of about 50 MW using world technologies on the territory of the republic, the minister said.

"We signed a mandate letter between the EBRD and Samruk Kazyna-United Green, in which the EBRD expresses interest in considering the possibility of providing long-term financing for the implementation of the investment project on construction of a 50 MW solar power plant in the Kyzylorda region,” he added.

In addition, an agreement to provide financing for the first start-up complex for the construction of the Astana EXPO-2017 wind farm with a capacity of 100 MW was signed between Development Bank of Kazakhstan JSC, CJSC "Green Energy" LLP and "BRK-Leasing" JSC, Bozumbaev noted.

Kazakhstan plans generating 50 percent of its electricity from renewable and alternative energy sources according to President Nazarbayev’s ambitious 2050 strategy. This strategy is a part of the country’s comprehensive initiative to transfer itself from one of the world’s major hydrocarbon energy producers to the green economy model.

Renewable energy production volumes will grow three times compared to current indicators, according to Kazakhstan’s Ministry of Energy. In three years, more than 100 alternative energy facilities will operate in the country compared to the current 50. The facilities will include 23 wind energy plants, 17 solar power stations and 13 hydroelectric power stations, as well as several plants producing biogas, an alternative energy source.

In addition to green energy, Kazakhstan’s transition also focuses on water source conservation, waste management and reduction of carbon emissions.

Special focus is currently being placed on wind power facilities, which is largely due to the unique natural conditions of the country’s regions. For example, the average annual wind speed reaches nine meters per second in the capital and Fort-Shevchenko, on the territory of the Dzungarian Gate and Shelek Corridor.

The areas, which measure approximately 50,000 square kilometers or 2 percent of the country’s total area, can produce a trillion kilowatt-hours per year, which significantly exceeds the nation’s energy needs.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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