Nineteen renewable energy projects worth $1.1 billion are now officially on the docket for Kazakhstan’s latest effort to go green and diversify its energy supply.

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While more than 70% of the Central Asian country’s electricity is currently produced by coal-burning, the development of renewable energy has become an important agenda item under the post-Soviet state’s new leadership, and the country is stepping up efforts to transition to low-carbon development, diversify the economy and bring private capital and investments.

 

In February 2020, Kazakhstan added its renewable energy industry to the list of priority investment projects, seeking to tackle the issue of high capital tax, as nearly 80% of costs in the renewables sector are racked up in the purchase of expensive equipment.

 

The move will allow investors to receive a range of tax breaks and benefits as part of the investment deal with the Kazakh foreign ministry.

 

Kazakhstan pledged to bring its share of renewable energy to 3% in 2020, 10% by 2030 and have half of its energy coming from green sources by 2050.

 

The country’s vast windy steppes and 3,000 hours of annual sunlight offer a lot of green potentials to tap into.