Renewable Energy Investment Forum in Kazakhstan
Astana, 4 December 2013
The Renewable Energy Investment Forum, organized by International Finance Corporation (IFC) jointly with EY, the Ministry of Environment and Water Resources of the Republic of Kazakhstan, the Association of Renewable Energy of Kazakhstan and Vestas, took place in Astana on 4 December 2013. The objective of the event was to introduce to the investment community the newly adopted renewable energy support mechanism and establish a public-private dialogue on the related opportunities and outstanding issues with the involvement of key stakeholders. The participants included representatives from more than 15 countries representing the corporate sector, international organizations, Kazakhstan’s government institutions and NGOs.
The Forum’s participants were the first to hear about the indicative feed-in-tariff levels currently contemplated by the Government of the Republic of Kazakhstan for various types of renewable energy. They were announced during the opening speech of Nurlan Kapparov, Minister of Environment and Water Resources of the Republic of Kazakhstan. During the technology-specific discussions on wind, solar and hydro the participants were able to specify the challenges of implementing the new support mechanism, share the experience of other countries and suggest concrete measures on how to improve it. The presentations are available on the website of the Ministry of Environment and Water Resources.
Overall, the new regulatory framework proposed by the Government has been welcomed as an important step toward developing the Kazakh renewable energy sector. As expected for a new and emerging sector and regulatory environment, participants discussed a number of open issues that will require continued attention and refinement.
The key points of discussion were as follows:
- bankability issues
- tariff levels and indexation formulae
- institutional setup issues