Kazakhstan to Allocate Over $110 Million Investment in Renewable Energy in 2024

ASTANA – Kazakhstan plans to invest 50 billion tenge ($110.7 million) in renewable energy sources in 2024. This allocation includes nine billion tenge ($19.9 million) for wind power stations, 13 billion tenge ($28.7 million) for solar power stations, and 28 billion tenge ($62 million) for hydroelectric power stations, reported Kazinform news agency on Feb. 26, citing the Ministry of Energy.

Photo credit: Ministry of Energy

In 2024, the country aims to commission 11 facilities for renewable energy, totaling 117.35 megawatts (MW). This will comprise three wind power plants with a capacity of 27.45 MW, two solar power plants with a capacity of 40 MW, and six hydroelectric power plants with a capacity of 49.9 MW.

Almasadam Satkaliyev, Minister of Energy. Photo credit: Ministry of Energy

Kazakhstan targets introducing approximately 300 MW of capacity nationwide, with capacities of 50 MW and 40 MW planned for the Aktobe Region, announced Minister of Energy Almasadam Satkaliyev during a Feb. 23 Senate briefing.

“This year, we will introduce approximately 943 MW of capacity, with 500 MW from new thermal generation facilities and over 243 MW from renewable energy facilities,” he said.

Renewable energy has shown steady growth, with installed capacity increasing over 16 times from 178 MW in 2014 to 2,868 MW in 2023. 

Last year, renewable energy facilities generated 6.675 billion kilowatt-hours (KWh) of electricity, accounting for 5.92% of total electricity production. With large hydroelectric power stations included, this figure reached 13.7%.

To achieve a 15% share of renewable energy sources by 2030 and a 50% share by 2050, the Ministry plans to conduct annual auctions and implement large-scale projects with strategic investors.

“The commissioning of five major renewable energy projects with a total capacity of five gigawatts is planned for 2029-2030,” the minister added.

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