• 76 MWp Solar Power Plant in Kazakhstan Secured USD 42.6 million Financing Package from EBRD, GCF and CIF

    Kazakhstan 76 MWp Solar PV Power Plant Karaganda small

    /18th September 2020, EBRD, RENEWABLE MARKET WATCHTM/ The European Bank for Reconstruction and Development (EBRD) is organising new financing for the construction of a 76MWp solar plant in the Karaganda region of Kazakhstan, a leader in the development of renewable energy in Central Asia, with a total installed solar capacity of 216MWp. The US$ 42.6 million package provided to the well-established German developer Joachim Goldbeck Holding GmbH will consist of an EBRD local currency loan of up to US$ 28 million (Kazakh tenge equivalent), a concessional loan of up to US$ 11.5 million provided by the Green Climate Fund (GCF), the world’s largest climate fund and a concessional loan of up to US$ 3.1 million provided by the Climate Investment Funds’ Clean Technology Fund (CTF). The new solar plant will help reduce annual CO2 emissions by more than 80,000 tonnes and contribute to meeting Kazakhstan’s national emission reduction targets as well as the EBRD’s Green Economy Transition strategy.

  • Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase and Pursues Clean Energy Leadership Position Among the CIS States

    Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase small

    /25th June 2020, RENEWABLE MARKET WATCHTM/ In the first quarter of 2020, the share of green electricity generated in the total amount of energy generated in Kazakhstan was 1.8%. This is 58% more than for the same period in 2019. Renewable energy development in Kazakhstan is accelerating. For three years, the amount of green energy generated has doubled. In 2017 renewable energy power plants in the country generated 1.1 billion kWh, while in 2019 this figure was 2.4 billion kWh. The state plans in 2020 to bring this figure to 3.15 billion kWh. According to the Kazakhstan Solar Photovoltaic (PV) Power Market Outlook 2020 ÷ 2030, electricity consumption in Kazakhstan will continue to show steady growth. Electricity consumption amid the development of the Kazakh economy shall increase by 2030 to 133.8 billion kWh, and by 2050 - to 162.7 billion kWh. The growing demand for electricity and the decommissioning of old power plants due to physical wear and tear in Kazakhstan will require significant construction of new power capacities: 10-15 GW by 2030 (which corresponds to approximately 60% of installed capacity for 2012) and 35-40 GW by 2050. This creates incredible opportunities for investors in renewable energy projects.

  • Skills Improvement is Necessary for the Renewable Energy Sector of CIS States

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    /11th March 2020, RENEWABLE MARKET WATCHTM/ The adoption of renewable power plants (especially solar and wind) in the Commonwealth of Independent States (CIS) will lead to a significant reduction in the region’s carbon footprint while saving natural gas for future or other use. In most CIS states, energy conservation is considered one of the main ways to ensure energy security. After the USSR's disintegration, the newly independent states faced severe challenges that had suddenly emerged in the energy sector. These challenges were related to providing a sustainable power supply. One of these challenges is the lack of skills for the renewable energy industry in the CIS states. The interest of policymakers in anticipating future skill needs has grown in all countries. A better-informed look into the future is viewed as an imperative of successful policies for more dynamic renewable energy markets and prosperous economies based on clean energy targets. Renewable Market Watch™ published the report Commonwealth of Independent States (CIS) Wind Power Market Outlook 2019÷2028. One of the main targets of this regional analysis is identifying impediments to the improvements that can be made in skills capacity development in the CIS region. Furthermore, in this report, an attempt is made to find ways to enhance the situation to mitigate risks related to the security of energy supplies in the CIS region.

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