Is Kazakhstan a good place to invest in solar power?

Kazakhstan has remarkable solar potential with a very well-designed auction system, a clear renewable capacity addition schedule, and a solid decarbonisation target. The country is now also including storage systems as part of its public procurement strategy in a move that will ease further integration of renewables into the grid.

Does Kazakhstan need a stable energy sector?

In fact, the country’s development directly depends on the stability of the energy sector,” Tokayev said. Efficient energy use and energy saving remain crucial, said Tokayev, noting that Kazakhstan is one of the world’s most energy-intensive countries.

Is Kazakhstan ready for a new energy sector in 2020?

In 2020, Kazakhstan achieved its target of three percent. Tokayev said that Kazakhstan, with its available resources, should maintain its leading position in the new energy sector in the future. The share of local content in renewable energy projects, however, must be increased, which is now “extremely small,” according to Tokayev.

Can solar power drive Kazakhstan's Energy Transition?

However, Kazakhstan’s solar ambitions do not fully tap into its potential, and the technology could play a far larger role in the country’s energy transition due to its low cost and flexibility. The focus now is on leveraging solar’s comparative advantages to drive forward Kazakhstan’s decarbonisation and harness its significant solar resources.

Why is energy security important in Kazakhstan?

“Ensuring energy security is one of the main tasks. The rate of energy consumption in Kazakhstan is growing from year to year. However, the new energy sources that are being launched do not match the growth rate. In fact, the country’s development directly depends on the stability of the energy sector,” Tokayev said.

What's new in Kazakhstan?

This update contains the latest economic and political advancements in the country, including the announcement of Kazakhstan’s new decarbonisation target for 2060, and the recent Memorandum of Understanding signed between the EU and Kazakhstan, stepping up cooperation on renewables, green hydrogen, and battery value chains.