Oil companies to launch five renewable energy projects in Kazakhstan by beginning of 2020

Major oil companies plan to launch five renewable energy projects by the beginning of 2020, Ministry of Energy Department of Renewable Energy Sources Head Ainur Sospanova announced recently.

She pointed out a trend of oil giants developing renewable energy projects in Kazakhstan.

“The oil companies such as Shell, Eni, Total and Irena are developing renewable energy projects, and as early as the next year they will be working in Kazakhstan. This is a good sign for us; it shows that these stable investors, which have 20 years of experience of working in Kazakhstan in the oil and gas sector are willing to come to the renewable energy sector. And we hope that a number of such investors, who know Kazakhstan and our legislation well, will come with open eyes and good knowledge about Kazakhstan and will invest in renewable energy,” said Sospanova.

Kazakhstan has 81 renewable energy facilities with a total capacity of more than 930 megawatts. At the end of 2019, 86 projects with a capacity of 980 megawatts will operate in the country. According to preliminary estimates, these projects should attract about $1 billion to Kazakhstan.

“These are investments that will create jobs, pay taxes and generate green energy. In addition, the effect of these investments is the creation of a new industry and training of Kazakh specialists. Both the KEGOC system operator and network organisations are involved here,” said Sospanova.

A German investor recently commissioned a solar station with a capacity of 50 megawatts in the Karaganda Region. The company that invested in this project has long been developing renewable energy projects in Kazakhstan. Similar stations have been commissioned in two more cities in the region.

Eni will finish the construction of the wind farm Badamsha-1 near Aktobe. The capacity of the farm is 48 megawatts. For the last two years, Shell has been providing Nazarbayev Intellectual Schools with solar stations as part of a programme between Shell, the Ministry of Energy and the schools.

Also, contracts signed between investors and the Settlement and Financial Centre are approaching 3,000 megawatts. For Kazakhstan, this is a significant amount. Kazakhstan’s energy balance will gradually integrate these 3,000 megawatts.

Text source: The Astana Times

Photo credit: kazpravda.kz

Created at : 25.10.2019, 01:00, Updated at : 25.10.2019, 01:20