Spain Express Interest to Invest in Kazakhstan’s Renewable Energy Sector

Spain Express Interest to Invest in Kazakhstan’s Renewable Energy Sector

Spain has expressed interest to invest in the renewable energy sector in Kazakhstan. The European country has extensive experience in developing the green industry and it is ready to share its technologies with Kazakhstan.

Spanish Exporters and Investors Club President, Antonio Bonet said that Kazakhstan is a good platform for its investment, although there needs to be more awareness raised on investing in the country as Kazakhstan’s market is considered as underexplored.

“Kazakhstan is a very important market for us. It is not only the largest country in Central Asia but it also provides huge opportunities for foreign businesses. It is important to have more presentations and visits as such meetings help us learn each other better,” he said.

A meeting was held between delegations from Kazakhstan and directors from 30 leading Spanish companies in Madrid recently.

The Kazakh officials made a presentation on the investment terms and the auction system in Kazakhstan. The Republic has an ambitious plan to produce 50% of its electricity using alternative energy by 2050.

Department Director of Kazakhstan’s Ministry of Energy, Ainur Sospanova said investors who participate and win in the auctions conducted in Kazakhstan can receive 15-year contract for the purchase of all of their produced electricity.

“It is based on the best international practice. Spanish companies are currently not actively present in the green industry in Kazakhstan. They are interested to access our market,” she said.

Meanwhile, the Kazakh Ministry of Energy has successfully launched the International Center for Green Technology and Investments.

The center will promote the development of green energy in Kazakhstan as well as become the platform of information, education and capacity-building tool.

The International Center for Green Technology and Investments spokesperson, Marat Mukhametsaliyev said that the center will conduct researches, studies and analyses on certain green practice in order to provide an environmentally-friendly manufacturing guideline for local industrial enterprises.

The alternative energy sector received 80.2 billion Tenge of investments last year. The bulk of the investments were allocated to Akmola, Zhambyl and Atyrau regions.