SolarPower Europe’s Emerging Markets Task Force launches new report on solar investment opportunities in Kazakhstan
At the Renewable Energy Summit 2019 in Nur-Sultan, Kazakhstan, SolarPower Europe’s Emerging Markets Task Force launched a new report analysing solar investment opportunities in Kazakhstan.
The report provides an overview of the country’s business environment, major macroeconomic and demographic trends, assesses issues related to credit and political risks. In addition, the report looks at the country’s energy context, key stakeholders and the regulatory framework relevant for solar investors interested in the Kazakhstani market.
Stefano Mantellassi, Vice-President Energy Solutions at ENI SpA and Chair of the Emerging Markets Task Force, said: “Kazakhstan has large potential for the development of solar energy. The Task Force members have shown great interest in the country’s potential, where the government’s renewables tender programme launched in 2018 – which has already resulted in 36 renewable energy projects with a total capacity of 858 MW – has sent a strong signal to investors and developers. These positive developments are expected to continue. I am convinced that the ongoing cooperation between SolarPower Europe and AREK will be key to open up opportunities for the private sector in Kazakhstan, where a thriving solar market could be further developed for both domestic consumption and possible export.”
Thomas C. Sauer, President & CEO of EXXERGY GmbH and lead author of the report, added: “The Kazakhstani solar market offers great potential to support a successful energy transition, decarbonising the energy mix across all segments; utility, commercial and industrial as well as residential. By fully exploiting its solar prospects, Kazakhstan can effectively support the economic transition under the Green Economy Strategy by installing high-quality solar plants built to internationally accepted conformity assessment standards and by delivering excellent services, which will play a significant role in the security of electricity supply, create jobs, and thus boost the Kazakhstani economy.”
The report was researched and prepared by EXXERGY GmbH with the support of the Task Force members and the Association of Renewable Energy of Kazakhstan (AREK) and is the fifth issue in SolarPower Europe’s emerging markets series. Previous reports focus on solar investment opportunities in Mozambique, Senegal, Ivory Coast, and Myanmar.