President reveals energy generation system acceptable for Kazakhstan
"The most acceptable for Kazakhstan are hybrid energy systems. They imply energy generation, using conventional sources in parallel to development of renewable energy to the extent it is possible," the President told the Foreign Investors' Council meeting.
The Head of State reminded that Kazakhstan possesses significant oil, coal, gas and uranium reserves. Their quantity is estimated to be 32 billion tons of crude oil equivalent, or nearly 4 percent of all the world reserves.
"Therefore, it would be reasonable that exactly these sectors attracted the initial inflow of considerable foreign investment. In good times of the market situation, we created serious reserves. Using them, we are carrying out large-scale work in industrialization and innovation and developing a powerful infrastructure program. Many of you are directly involved in this process," the President noted.
In addition, as the President said, Kazakhstan has always sought to diversify the economy, ensure its stability and become less dependent on raw materials, while addressing environmental issues and energy development.
"Among the CIS states, our country was the first to create institutional conditions for the transition to a green economy. We adopted the Environmental Code in 2017, the Law 'On Supporting Renewable Energy Sources Use' in 2009, and the concept of Transition to a Green Economy in 2013," Nursultan Nazarbayev highlighted.
At the same time, he says that Kazakhstan has enormous potential for RES development.
"Wind power is estimated at 920 billion kilowatt-hours per year, hydraulic potential is 62bn kWh/year, and solar energy reaches 2.5bn kWh/year. We have developed the action framework for government support and set the targets, actively and rigidly moving in line with the adopted program. By the end of 2020, it is planned that we will have placed into operation over 50 renewable energy sources with a total capacity of 2,000MW. By 2050, the share of alternative energy in the country's total energy is to rise up to 50 percent," the President said.