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Kazakhstan to Hold Green Energy Auction
Kazakhstan to Hold Green Energy Auction

Kazakhstan to Hold Green Energy Auction

Kazakhstan to Hold Green Energy Auction

Kazakhstan plans to hold the first green energy auction in 2018 to purchase energy generated from renewable energy sources. This was announced by Kazakh Energy Minister Kanat Bozumbayev during a government meeting on environmental issues, Kazakh media reported on October 31. “In 2018, we plan to hold the first auction on RES. I think ensuring attractive conditions for the winner of the auction would help us reduce the RES tariffs and attract major international investors,” he said. Kanat Bozumbayev stressed that the auction is expected to have positive results for the country and tariffs for the Kazakh "green" electricity would be more acceptable for consumers. “Previously, such a practice was applied by Saudi Arabia when the Masdar Company won an auction setting a price of 1.8 cents per 800 megawatt.” The minister mentioned that Kazakhstan has agreements with international financial institutions on allocating funds for the development of renewable energy sector in the country. For instance, the European Bank for Reconstruction and Development will allocate €200 million ($233 million) to renewable energy projects in Kazakhstan.

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