Azerbaijani Investors are to enter the RE market of Kazakhstan

According to the Trade and Integration Ministry of Kazakhstan, the country plans to attract investments from Azerbaijan to fund renewable energy projects. The ministry also noted that Kazakhstan pays great attention to the development of the renewable energy sector and expects to achieve its targets under the Concept on Transition towards Green Economy. Adopted in 2013, the Concept envisages the share of renewable energy in the nation’s total energy grid reaching 10 per cent by 2030. However, earlier this year, Kazakh President Kassym-Jomart Tokayev tasked the government to increase the target up to 15 per cent. The document ultimately aims for at least half of Kazakhstan’s electricity to come from renewable sources by 2050.

At the same time, EBRD urges Kazakhstan to act quickly on decarbonization. Coal, the dirtiest fuel, accounts for 70% of the country’s electric power output and quickly phasing it out with renewable energy sources alone would be impossible. During a visit to Kazakhstan, Odile Renaud-Basso, the President of the EBRD said that the quick shift from coal to renewables would be very difficult. To ensure the gapless transition at that point of time Kazakhstan must press ahead with decarbonisation projects that involve natural gas usage for example, for district heating projects.