Representatives from foreign companies recently met with Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu to discuss joint investment projects in Kazakhstan. The discussions focused on advancing collaboration and expanding investment opportunities in the country’s renewable energy sector.
During a meeting with officials from French energy company Total Energies, both parties expressed a keen interest in future cooperation, with a particular emphasis on hybrid projects that incorporate renewable energy sources. In addition, plans were discussed for the construction of a one-gigawatt wind power station in the Zhambyl Region.
Total Energies, a global energy company with a strong presence in Kazakhstan over the past three decades, demonstrated its commitment to further investment collaboration with the country.
The minister also held talks with the head of Saudi company ACWA Power, where Kazakhstan’s ambitious goal of raising the share of renewable energy in electricity production to 30% by 2030 was commended. ACWA Power expressed its intentions to undertake a one-gigawatt wind power station project in the Zhetisu Region. The agreement, signed earlier this year between the Kazakh Ministry of Energy, Samruk Kazyna Sovereign Wealth Fund, and ACWA Power, paves the way for the construction of the wind power station in 2025.
ACWA Power aims to establish long-term cooperation with Kazakhstan, focusing on investment initiatives in water desalination and green hydrogen production projects. The company’s CEO, Marco Arcelli, highlighted Kazakhstan’s significant potential in the renewable energy sector during an interview, emphasizing the importance of diversification for the country’s decarbonization goals. Additionally, Arcelli noted the influence of the European Union’s Carbon Border Adjustment Mechanism (CBAM), which has compelled countries worldwide to prioritize decarbonization efforts for exporting to Europe.
With these discussions and agreements, Kazakhstan’s renewable energy sector is poised for further growth and international collaboration. The country’s commitment to a greener and more sustainable future presents ample opportunities for foreign companies to invest in and contribute to Kazakhstan’s energy transition.
1. What is the aim of Kazakhstan’s renewable energy goals?
Kazakhstan aims to raise the share of renewable energy in electricity production to 30% by the year 2030, demonstrating its commitment to a greener and more sustainable future.
2. Which foreign companies were involved in the discussions?
Representatives from Total Energies, a French energy company, and ACWA Power, a Saudi company, engaged in discussions and expressed their interest in collaborating on renewable energy projects in Kazakhstan.
3. What do the discussions emphasize?
The discussions between foreign companies and Kazakh officials emphasized the importance of hybrid projects that integrate renewable energy sources. This approach ensures a more sustainable and diversified energy sector in Kazakhstan.
4. What is the significance of the European Union’s Carbon Border Adjustment Mechanism (CBAM)?
The CBAM is a mechanism that aims to tax carbon-intensive imports, encouraging countries worldwide to prioritize decarbonization efforts. Kazakhstan recognizes that aligning with this mechanism is crucial for its efforts to export to Europe and thus accelerate its decarbonization goals.