EBRD Allocates 300 Million Euros to support Renewable Energy Projects in Kazakhstan

Renewable energy projects in Kazakhstan have garnered interest from international financial organizations.

The European Bank for Reconstruction and Development will allocate 300 million Euros to support the country which is a regional leader in alternative energy development.

Meanwhile, renewable energy facilities with a capacity of over 900 megawatts have been launched in Kazakhstan. Based on the results of the first half year, the production capacity was estimated at 700 megawatts.

The favorable investment climate and legislative base contribute to the development of the sector, said experts.

Currently, about 70 to 80 projects have been implemented in Kazakhstan. Last year, an additional 30 companies have won an auction. This year, there are many winners of the projects.

“This shows that the number of projects which were built in line with development projects in Kazakhstan will reach 100 units,” said CEO of Renewable Energy Association in Kazakhstan, Arman Kashkinbekov.

Photo: physicsworld.com