Kazakhstan Chamber of Commerce in the USA


EIB provides €200m to support green projects in Kazakhstan 0

Posted on December 05, 2016 by KazCham

Centil Law Firm BI@centil.law

Long-term funding for SMEs in Kazakhstan and finance projects involving climate change adaptation and mitigation and environmental protection are set to be available as the European Investment Bank (EIB) signs two financing contracts for €150 million and €50 million.

The EIB funds will help to implement the “Concept for the Transition of the Republic of Kazakhstan to a Green Economy”, as climate action and environmental protection are Kazakhstan’s key policy objectives. This will contribute to the improvement of industrial competitiveness by fostering cleaner and greener production investments, renewable energy generation, resource efficiency and climate-resilient infrastructure projects.

The EIB is joining forces with a well-established partner, JSC DAMU Entrepreneurship Development Fund (DAMU), a state-owned development institution created by the government to support the development of Kazakhstan’s SME sector that will on-lend the EIB funds to selected financial intermediaries.

Kazakhstan to launch over 100 renewable energy facilities by 2020 0

Posted on December 01, 2015 by KazCham

Trend News

Kazakhstan plans to commission 106 facilities generating energy from renewable energy sources by late 2020, the country’s Energy Ministry said.

The total capacity of these facilities will be 3054.55 megawatts.

The country will commission 28 solar power plants with the capacity of 713.5 megawatts in Almaty, Zhambyl, Atyrau, Karaganda, Kyzylorda, South Kazakhstan and Mangistau provinces.

The ministry said that all these projects in the sphere of renewable energy sources of Kazakhstan are implemented with attracted funds and are not financed from the state budget.

In general, as part of the concept for transition of Kazakhstan to “green economy”, the volume of electricity generated from renewable energy sources is planned to reach 3 percent of the total volume of electricity by 2020 and 10 percent by 2030.

Moreover, the Energy Ministry said that under the law “Support for use of renewable energy sources”, fixed tariffs for the electricity generated from renewable energy sources have been approved since 2014 for 15 years.

The tariffs for the electricity generated by wind farms were set at 22.68 tenges ($1 = 307.314 tenges) per kilowatt hours; solar power plants – 34.61 tenges; small hydro power plants – 16.71 tenges; and biogas plants – 32.23 tenges per kilowatt hours.

The Settlement and Financial Center of Kazakhstan is engaged in purchase and sale of electricity generated from renewable energy sources.

In addition, according to the law, energy transmission companies are required to provide the companies producing energy from renewable energy sources, with the access to energy transmission networks. Energy transfer from renewable energy sources is free of charge.

Companies engaged in designing, construction and operation of facilities for the use of renewable energy sources, get investment preferences in accordance with the legislation of Kazakhstan.

President approves Kazakhstan transition to ‘green economy’ concept. 0

Posted on June 05, 2013 by KazCham

The decree of the Head of state about the concept on transition of the Republic of Kazakhstan to “green economy” is approved. The text of the decree is published on June 1 on an official seal. In the decree Nazarbayev decides “to approve the concept of Kazakhstan transition to “green economy”. According to the decree, the government of Kazakhstan needs to approve the plan of measures on concept implementation. In the comment to the decree it is noted that the concept of Kazakhstan transition to “green economy” lays the foundation for deep system transformations for the purpose of transition to economy of a new formation by means of welfare increase, Kazakhstan population life quality increase and country’s entry into the number of 30 most developed countries of the world at minimization of environmental load and degradation of natural resources.

Business Intelligence from Colibri Law Firm: Issue #60

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