Kazakhstan: Solar Investment Opportunities

Version 2

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. 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.

This report builds on the first edition of solar investment opportunities 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. It also contains updated figures for Kazakhstan’s new solar capacity, following the most recent auction announcements, and the latest electricity tariffs and energy mix data. Moreover, the recommendations have been updated to reflect the evolving dynamics of the Kazakh energy sector. 

 

The update of the 2019 Kazakhstan report is the thirteenth in a series of SolarPower Europe market reports that include: Mozambique, Senegal, Côte d’Ivoire, Myanmar, Kazakhstan, India, Tunisia, Latin America, Algeria, the Middle East, and Vietnam.

Kazakhstan: Solar Investment Opportunities Version 2

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