EBRD applauds Kazakhstan's adoption of FiT law

Aug 30, 2013 - The European Bank for Reconstruction and Development (EBRD) on Friday lauded the introduction of a feed-in tariff (FiT) law to support renewables in Kazakhstan and said it was ready to back bankable projects there.

The bank has been collaborating with Kazakhstan’s Ministry of Industry and New Technologies and the Ministry of Environmental Protection to help shape up the legislation. Financial support for expert work on the law came from EBRD’s Shareholder Special Fund, the Clean Technology Fund and the British government.

Josue Tanaka, EBRD managing director for energy efficiency and climate change, pointed out that “the next big challenge is building up the infrastructure for renewable energy, on which projects will have to rely”. He said that Kazakhstan needs all kinds of infrastructure from cranes for wind turbines to an upgraded power grid. Tanaka added that the bank was ready to provide financial support to projects in the sector.

EBRD says it has spent nearly EUR 400 million (USD 528.5m) under its Sustainable Energy Action Plan for Kazakhstan and is on the lookout for energy efficiency and renewable energy projects in need of financing.

In February 2013 Deputy Prime Minister Asset Issekeshev said that Kazakhstan will aim at 1,040 MW of installed renewable power capacity by 2020, including wind, hydropower and solar power plants.

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