Azernews.Az

By Aynur Karimova

Kazakhstan's Investment and Development Ministry jointly with the World Bank have officially announced the launch of a project titled the "Promotion of Energy Efficiency in Kazakhstan".

A grant worth $21.7 million was allocated to the project by the Swiss Agency for Development and Cooperation through the Trust Fund administered by the World Bank.

The project is aimed at improving the energy efficiency of public and social facilities, as well as improving the institutional framework for energy efficiency, particularly the establishment of the mechanism of financing of projects in the field of energy conservation.

A part of the project will be geared toward reducing energy use in schools, kindergartens, hospitals and street lighting with an aim of demonstrating energy savings and associated social benefits.

As a first measure, the project will support 19 public facilities in Atyrau, Kyzylorda, Mangystau, Karaganda, Pavlodar, and East Kazakhstan regions in the course of the construction season in 2016.

Kazakhstan is among the 10 countries with the highest levels of energy intensity. According to the International Energy Agency, the modernization of the Kazakh economy will be in line with a serious reduction in energy consumption.

Energy-rich Kazakhstan is currently looking for ways to use its renewable energy sources. In late January, an action plan was adopted on the development of renewable energy for the period of 2013 to 2020.

Kazakhstan enjoys real opportunities to improve energy efficiency in all sectors of the economy. The country is also taking important steps in the development of renewable energy sources and increasing the number of environmental measures.

According to the "100 concrete steps" plan voiced by President Nursultan Nazarbayev, one of the important directions of Kazakhstan’s industrial development is the reduction of energy intensity in the gross domestic product of the country.

In this regard, the government plans to introduce energy service contracts that will save significant budget expenditures thanks to lower energy consumption. Currently, about 100 companies in Kazakhstan are entitled to conduct an energy audit.

In August, Albert Rau, Kazakhstan's Deputy Investment and Development Minister, announced that the country will establish an energy efficiency fund, which will become a tool for supporting energy service companies by allocating them credits and loans on preferential terms.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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