Thursday, December 7, 2023

Kazakh to increase the share of renewable energy sources

The Nur-Navoi solar plant in neighboring Uzbekistan.

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Kazakh President Kassym-Jomart Tokayev said the goal is to bring the share of renewable energy in the country’s energy balance to at least 15% by 2030, according to the presidential office in Nur-Sultan.

He was addressing the 34th plenary session of the Foreign Investors’ Council on June 9. The event was attended by heads of major multinational companies, heads of government agencies and representatives of international organizations.

The agenda of the meeting included the development of decarbonisation of the economy and the introduction of low-carbon technologies.

Tokayev also noted the importance of nuclear power. According to the President, in the context of the instability of renewable energy and limited gas generation, the peaceful use of nuclear energy is the only source of continuous basic generation.

Tokayev underscored the key role of the gas industry in reducing the use of coal, noting the increased demand for domestic gas consumption. “I would like to emphasize that meeting domestic demand for gas has absolute priority over gas exports. I ask the Government in cooperation with the shareholders of Tengiz field to address the issue of redirecting two billion cubic meters of gas from export to the domestic market,” Tokayev said.

In conclusion, the leader of Kazakhstan urged members of the Council to intensify actions to implement green projects, mobilize ESG investments and achieve sustainable development goals.

Also on June 9, Tokayev held a meeting with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso on the sidelines of the 34th meeting of the Foreign Investors’ Council.

They discussed the prospects for the implementation in Kazakhstan of several investment projects in the areas of infrastructure, transit traffic, decarbonisation of the economy and the financial sector. They also exchanged views on topical issues of global economic development.

Renaud-Basso congratulated Kassym-Jomart Tokayev on the success of the national referendum and noted that its results will further strengthen the confidence of foreign investors in Kazakhstan, the presidential office in Nur-Sultan said. She also shared her vision for the prospects of economic development and strengthening the financial system in Kazakhstan.

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