Kazakhstan reaffirms drive for carbon neutrality by 2060

Kazakhstan will push forward in developing renewable energy sources as part of the country’s transition to a low-carbon economy, Kazakh Prime Minister Askar Mamin has reaffirmed.

Chairing a meeting of the Council for the Improvement of the Investment Climate on Friday, Mamin reaffirmed the plans to achieve carbon neutrality by 2060. Under the plans, the country plans to increase use of renewables to account for 15 percent of its energy use from the current 3 percent by 2030 and to plant 2 billion trees.

Mamin underlined Kazakhstan’s measures to advance the investment environment and attract foreign capital and advanced technologies to develop alternative energy.

According to a press statement from the Kazakh Embassy in Seoul, Kazakhstan commissioned 25 renewable energy projects with a total capacity of almost 600 megawatts in 2020 with volume of investments exceeding $510 million, and by the end of 2021, 22 projects with a total capacity of 450 megawatts are to be commissioned, attracting $445 million investments

“Over the next four years, it is planned to commission more than sixty new renewable energy projects with a total capacity of 2,400 megawatts and an investment volume of more than $2.5 billion,” the press statement said.

The prime minister noted that agreements on strategic cooperation between the Samruk-Kazyna joint stock company and the sovereign fund Abu Dhabi developmental holding company as well as investment documents for constructing 4 gigawatts of solar and wind power plants in Kazakhstan would grow investments to modernize the energy sector and develop renewable energy sources in Kazakhstan.

“Overall, by 2030 Kazakhstan plans to commission more than 180 renewable energy projects with a total capacity of 9 gigawatts.There is no doubt that our country will fulfill all its obligations within the framework of COP26 in a timely manner,” Mamin said.

The press statement said the CIIC meeting discussed organizational, legislative and financial aspects on decarbonizing the economy, practical implementation of Kazakhstan‘s updated nationally determined contribution to reduce emissions, optimization of energy balance and further investments in overall development of renewable energy sources and the green economy.

The CIIC meeting announced measures taken by Kazakh Minister of Ecology, Geology and Natural Resources Serikkali Brekeshev, Minister of Energy Magzum Mirzagaliyev and Minister of National Economy Aset Irgaliyev, the statement read.

Meanwhile during the meeting, the American Chamber of Commerce in Kazakhstan, International Energy Agency, Eurasia Department of the International Monetary Fund, Center for Tax Policy and Administration at the Organization for Economic Cooperation and Development, European Bank for Reconstruction and Development director for Kazakhstan, Italian ambassador to Kazakhstan, ambassador of Netherlands to Kazakhstan, EY -- formerly Ernst & Young -- and Italian energy company Eni presented reports on prospects for developing the green economy and attracting foreign investment in renewable energy sources.

By Sanjay Kumar (sanjaykumar@heraldcorp.com)