Kazakhstan Aims to Decarbonize Economy with Support from Asia Development Bank and European Bank for Reconstruction and Development

Strategic Insights -

In a bid to shift away from fossil fuels, Kazakhstan aims to increase the share of renewable energy in its energy mix from 6% in 2025 to 50% by 2050. To achieve this goal, the country is investing in clean energy projects, with the support of international partners like the Asia Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD). Two major solar power projects in Kazakhstan are being supported by ADB and EBRD, which will improve the country's energy security and help decarbonize its economy.

Key Takeaways:

  • The 100 MW M-KAT solar power plant in southeastern Kazakhstan is one of the largest solar power projects in Central Asia, covering about 300 hectares of land and generating an average of 176 gigawatt hours of energy annually.
  • The 50 MW Baikonyr solar power project in southern Kazakhstan is ADB's first long-term local currency financing in the region, reducing CO2 emissions by 40,000 tons annually.
  • The solar projects are creating local job opportunities, with more than 40 jobs provided by the Baikonyr solar power project for local residents in the project area.
  • The success of these projects demonstrates the viability of solar projects in Kazakhstan, attracting more investors in the country's emerging solar industry.
  • Kazakhstan aims to increase its renewable energy capacity through 59 projects with a total output of 1400 MW.
  • The country's renewable energy sector is expected to significantly contribute to reducing its dependence on fossil fuels and meeting its target of 50% share of renewable energy in the energy mix by 2050.

Statistics:

  • 70% of Kazakhstan's electricity generation is from coal-fired plants.
  • Kazakhstan aims to increase the share of renewable energy to 6% by 2025, 15% by 2030, and 50% by 2050.
  • The 100 MW M-KAT solar power plant is expected to generate an average of 176 gigawatt hours of energy annually.
  • The 50 MW Baikonyr solar power project will reduce CO2 emissions by 40,000 tons annually.
  • 59 projects with a total output of 1400 MW are planned to increase Kazakhstan's renewable energy capacity.

Sources:

  • Asia Development Bank,
  • European Bank for Reconstruction and Development,
  • Kazakhstan's Ministry of Energy