The Kazakh Ministry of Energy revealed a portfolio of 60 investment projects totalling KZT 17 trillion ($38.1 bn). The ministry’s press service highlighted that these initiatives are designed to foster economic growth, bolster energy security, create employment opportunities, reduce environmental impact, and integrate advanced technologies in energy infrastructure.
The investment projects will primarily focus on the commissioning of new energy capacities, construction of gas processing facilities, expansion of domestic refineries, development of renewable energy projects, and advancements in petrochemical production.
Kazakhstan aims to modernize its energy infrastructure by adding nearly 26 gigawatts (GW) of new energy capacity by 2035 as part of its energy balance strategy.
A significant portion of the investment pool is dedicated to renewable energy. By 2027, the ministry plans to commission 592 megawatts (MW) of green energy capacity.
In 2023, the ministry completed 17 projects with a combined investment of KZT 286.5 bn ($642 mn).
Earlier, Daryo reported that Kazakhstan, Azerbaijan, and Uzbekistan signed a memorandum of cooperation for a Caspian Sea energy cable. The agreement was inked by the energy ministers of the three countries at the Tashkent International Investment Forum, aiming to interconnect their energy systems.
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