Kazakhstan plans to hold the first green energy auction in 2018 to purchase energy generated from Renewable Energy Sources (RES), said Kazakh Energy Minister Kanat Bozumbayev during a government meeting on environmental issues.
“In 2018, we plan to hold the first auction on RES. I think ensuring attractive conditions for the winner of the auction would help us reduce the RES tariffs and attract major international investors,” said Bozumbayev.
He stressed that the auction was expected to result positively for the country, and the tariffs for the Kazakh “green” electricity would be more acceptable for the consumers.
“Previously such a practice was applied by Saudi Arabia when the Masdar company won an auction setting a price of 1.8 cents per 800 megawatt,” he noted.
The minister mentioned that Kazakhstan had agreements with international financial institutions on allocating funds for development of renewable energy sector in the country. In particular the European Bank for Reconstruction and Development will allocate 200 million euros to renewable energy projects in Kazakhstan. (Trend/Business World Magazine)