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Renewable Energy Market in Kazakhstan: Potential, Challenges, and Prospects

PwC Kazakhstan presents a study of the renewable energy sources market: “The RES market in Kazakhstan: potential, challenges and prospects.” The study involved RES producers, representatives of international development banks, a regulator, researchers, analysts and consultants involved in the direct creation of RES facilities in Kazakhstan.

The particular relevance of research work is determined by the agenda for decarbonization and achieving carbon neutrality (Net Zero), serious concerns about climate change, as well as the promotion of “green energy.”

In an effort to “green” their portfolios, investors are paying more and more attention to the non-financial performance of enterprises, supporting the trend towards sustainable development. The RES sector is an alternative to traditional energy sources, especially in the midst of constant technological progress, due to which there is a rapid decrease in the cost of building such power plants. However, in order to comply with the Paris Agreement, the pace of transition to alternative energy sources must be much higher. According to IRENA (International Renewable Energy Agency) forecasts, the installed capacity of RES facilities should increase 10 times in order to achieve the goals of the Paris Agreement by 2050, which Kazakhstan ratified in 2016 and pledged to reduce greenhouse gas emissions by 15% by 2030 by mobilizing innovative solutions involving the private sector.

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