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Tariffs for renewable energy drop in Kazakhstan

27 October 2021 17:43
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Tariffs for renewable energy drop in Kazakhstan

NUR-SULTAN. KAZINFORM - First Deputy Minister of Ecology, Geology, and Natural Resources of Kazakhstan Murat Zhurebekov. spoke of what perspectives in solar and wind electricity Kazakhstan has and what work is being done to develop them, Kazinform correspondent reports.

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«As for perspectives, the country has the concrete long-term goals to develop renewable energy in the country. Since 2018, open electronic auctions have been held to carry out renewable energy projects, which is of great effect. Over the past three years as a result of the auctions held the tariffs for solar and wind electricity have dropped by 23%,» said First Deputy Minister of Energy Murat Zhurebekov.

According to him, development of a competitive environment directly leads to reduction in tariffs.

«In parallel, we are cooperating with the partners from the UAE. It is the world practice when countries use mechanisms for competitive trade and signing strategic agreements. The same is done in a number of other countries. It results in greater competitiveness and reduction in tariffs for our consumers,» he said.

Minister of Ecology, Geology, and Natural Resources of Kazakhstan Serikkali Brekeshev added that renewable energy technologies have became more affordable.

«As for solar energy, over the 10-year period costs of the technologies have dropped by 9 times. Therefore, the main inflow of investments is expected after 2040… Technologies of capturing and storing carbon remain expensive. But they might become affordable in 10-15 years,» said the minister.

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