Major investors from UAE, France eager to invest in renewable energy projects in Kazakhstan

ASTANA. KAZINFORM – Executive Director of the Ecojer Association Kuanysh Baltabayev made comments on the integration of renewable energy sources into the electricity grid of Kazakhstan, Kazinform correspondent reports.

Speaking on the sidelines of the 3^rd International Congress ECOJER Carbon Neutrality Pathways, Baltabayev said that Kazakhstan has signed a number of agreements in this direction since the start of the year. An agreement for generating 1GW of renewable energy was concluded in France. The similar deal was reached during the recent visit to China. There are plans to construct facilities generating around 6-6.5GW of renewable energy.

According to him, a number of foreign investors are eager to develop green energy in Kazakhstan.

«There are questions about where to construct them, what rate to set. Major energy producers have questions about how it is going to be balanced, in case of no wind. As for economic effects, there are willing investors. They take an interest in upscaling such projects. There are many investors from the UAE, France, China, India, willing to build facilities of gigawatt class power,» said Baltabayev.

According to him, by 2030, the country is to increase the share of electricity generated from renewable energy sources to 15%.

«The country produces 114bln GW of electricity, of which 4bln via renewable energy sources, which is around 3% - the goal set to reach by 2020 in our strategic documents. By 2030, 15% of the total electricity produced needs to be generated from renewable energy sources,» said Baltabayev.