The capacity will come from about 52 of renewable energy projects that will add to the 55 already operational plants in the country with a combined capacity of 336 MW.
Bozumbayev was also quoted as saying that the renewable energy industry in the Asian country will be supported by around USD 244.2 million (EUR 198.5m) by the European Bank for Reconstruction and Development (EBRD). The lender will also aim to bring between EUR 40 million and EUR 80 million of private and international investment in the sector, he added.
According to the report, among the companies seeking development opportunities in Kazakhstan’s renewable energy field are US conglomerate General Electric (NYSE:GE) and the Development Bank of Kazakhstan (DBK). The Asian Republic’s long-term goal is to source from renewables and alternative energy plants 50% of its electricity consumption by 2050.