September 27, 2022
The Republic of Kazakhstan has set out ambitious goal of achieving 5 GW in wind energy and 500 MW in solar energy by 2030 in its Green Economy Concept Note (2013). As Kazakhstan is well positioned for investment with its abundant wind and solar resources, its long-term vision to establish itself as a regional leader in green economic development will be benefitted from increasing renewable investment.
UNDP is working with the Government of Kazakhstan in the implementation of the Global Environment Facility (GEF) financed project “Derisking Renewable Energy Investment” (2017-2022), targeting both utility-scale and small-scale renewable energy investments. The project aims to promote private sector investment to achieve the country’s 2030 and 2050 targets for renewable energy.
UNDP has performed the DREI analyses on the impact of investment risks alongside a menu of public de-risking measures. The main objective of this report is to contribute to creating an enabled environment for wind and solar photovoltaic (PV) energy, two of the key technologies highlighted for achieving the government’s long-term objectives. The study also aims to enhance UNDP’s collaboration with other international development organizations (including EBRD, IFC, ADB, and USAID) that are currently on the ground, working towards catalyzing utility-scale renewable energy investments.
Materials on DREI Kazakhstan are available for download:
Key Points for Decision-Makers (PDF)
Full Report (PDF)