Kazakhstan’s Energy Minister will bring contracts worth $3.7 billion from the UN climate conference in Baku COP29. These are investments in the construction of renewable energy sources.
“Kazakhstan attracted almost $3.7 billion in green energy investments at the Baku summit. Kazakh Energy Minister Almasadam Satkaliev signed a series of documents on cooperation with international companies and development institutions in the field of “green” energy development. — informs the Ministry of Energy of Kazakhstan.
Thus, the head of the Ministry of Energy signed an agreement with the Chinese government. The amount of investment in renewable energy projects will amount to more than 2 billion dollars. The Minister will also bring an investment agreement on a wind power plant with Abu Dhabi Future Energy Company (MASDAR). The project is estimated at 1.5 billion dollars.
Besides, Almasadam Satkaliev signed a memorandum of understanding with the Asian Development Bank (ADB). The document aims to accelerate the decommissioning of coal plants and increase the use of renewable energy sources.
“Kazakhstan is actively updating the legislative framework to increase the investment attractiveness of the renewable energy sector. “Our country is always open and willing to actively cooperate.” – said the Kazakh minister.
According to the Ministry of Energy of Kazakhstan, the share of renewable energy sources in the country’s electricity production for 6 months of 2024 amounted to 6.5%.
“To achieve a 15% share of renewable energy sources until 2030, annual auctions for a total capacity of more than 6 GW (2024 – 1270 MW) will be guaranteed, as well as the implementation of large-scale projects with strategic investors. “ – stated the ministry.
