New report unveils investment opportunities for solar in Kazakhstan

• SolarPower Europe, supported by the Global Solar Council and the Association of Renewable Energy of Kazakhstan (AREK), publishes the second edition of its report on solar investment opportunities in Kazakhstan. 
• The latest work of SolarPower Europe’s Global Markets workstream contains the latest economic and political advancements in the country, including the announcement of Kazakhstan’s new decarbonisation target for 2060 and the recent legislative amendments of the electricity market. 
• The report includes updated figures for Kazakhstan’s additional solar capacity, following the most recent auction announcements, and the latest auction electricity tariffs and energy mix data. 

BRUSSELS, Belgium (30th November): SolarPower Europe has published the second edition of its report: ‘’Solar Investment Opportunities in Kazakhstan’’. This new publication builds on the 2019 edition, offering key insights into the Kazakh solar sector, and opportunities for international investment. 

Paolo Travaglini, Chair of SolarPower Europe’s Global Markets Workstream, stated: “Kazakhstan holds the potential for a substantial growth of solar installed capacity thanks to its remarkable solar resources, a very well-designed auction system, and ambitious renewables and decarbonisation targets. In an evolving regulatory framework, this report aims at providing an important contribution to solar energy growth in the country.” 

This report builds on the first edition of solar investment opportunities in Kazakhstan and provides 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.  

The report also contains updated figures for Kazakhstan’s additional solar capacity, following the most recent auction announcements, the latest auction electricity tariffs and energy mix data, as well as a snapshot of the recent legislative amendments of the electricity sector. Moreover, the recommendations have been updated to reflect the evolving dynamics of the Kazakh energy sector. 

Benjamin Clarke, SolarPower Europe’s Business Analyst and Global Markets Workstream Coordinator, said: “Kazakhstan has all the right conditions to become a solar superpower. The flexibility and low cost of solar could play a massive role in decarbonising the country. This report will hopefully help to enable more investment, unlocking the country’s true solar potential.” 

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

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