/18th December 2019, RENEWABLE MARKET WATCHTM/ The first foreign wind farm investment for Kazakhstan and the first project in the region in the field of renewable energy sources were implemented by Italian investors in the Aktobe region. The ceremony of launching the 'Badamsha-I Wind Farm' was attended by the Ambassador of Italy to Kazakhstan, Pasquale D'Avino, Akim of the Aktobe region Ondasyn Urazalin, Deputy Chairman of the Management Board of JSC “NC“ KAZAKH INVEST ”Birzhan Kaneshev, as well as Executive Vice President of Eni for the Central Asian Region Luka Vinyati.
The wind power plant, of the power of 48MW, marks the beginning of an agreement that will significantly increase the supply of wind energy in the country. Eni is pleased to support the country's commitment to reach 50% of the supply of energy from renewable sources within the 2050, GE Renewable Energy aims to make it accessible and reliable to more people all over the world. Eni is present in Kazakhstan by 1992, is currently co-operator of the Karachaganak field and equity partner in various projects in the northern Caspian Sea, including the giant Kashagan field. Eni is also co-operator in the Isatay exploration block, with the national company KMG.
About 200 GWh are planned to be generated here annually. The project cost is about $ 100 million. According to experts, the implementation of the project will reduce carbon dioxide emissions into the atmosphere by more than 172 thousand tons per year. The sale of the electricity produced is regulated by a 15 years Power Purchase Agreement (PPA) with Financial Settlement Center (FSC) as Single Buyer.
Creation and development of Financial Settlement Center of Renewable Energy LLP is associated with the adopted course of the Republic of Kazakhstan on the development of the renewable energy sector (hereinafter – RES). In order to create conditions for the development of the RES sector, there was an adoption of the mechanism of state support based on the implementation of a centralized purchase of renewable electric energy by single buyer.
In order to implement this mechanism, System Operator (KEGOC JSC) in accordance with the Law of the Republic of Kazakhstan dated 4th of July 2009 No. 165-IV "On the Support for the use of renewable energy sources " created Financial Settlement Center of Renewable Energy. By the Decree of the Government of the Republic of Kazakhstan No. 1281 of November 29, 2013, Financial Settlement Center is defined as financial settlement center on support of renewable energy sources.
According to the Order of the Minister of Energy of the Republic of Kazakhstan No. 357 dated September 7, 2018, Financial Settlement Center has been determined as a single purchaser (power off-taker), carrying out a centralized purchase of services to maintain the availability of electrical power and centralized provision of services to ensure the availability of electrical power to bear the load.
According to company representatives, during the construction period, 480 employees and 14 Kazakhstan construction companies were involved. In addition, it is planned to create up to 15 new highly qualified jobs. In the next few years, the company intends to implement several projects in the field of renewable energy in Kazakhstan. So, in September of this year, Eni won an auction for an additional 48MW for the project to expand the launched wind farm, and in November 2019, investors were recognized as the winner of the 50MW auction for the project for the construction of a solar photovoltaic (PV) power plang in Turkestan region. Project launch is planned in the coming years.
The more information about the renewable energy market in Kazakhstan, including full contact details of renewable energy project owners, developers and stakeholders, you may read here: ’Kazakhstan Renewable Power Market Outlooks 2019÷2028’. Furthermore, you may receive up to 4 quarterly updates.
In order to download brochures with sample pages of these exceptional reports please access from here: Kazakhstan Solar Photovoltaic Power Market Outlook 2019 - 2028
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