Kazakhstan Strengthens Energy Cooperation with Europe
Kazakhstan is strengthening its position in Europe as a strategic partner in energy and the green transition. Memoranda were signed in Brussels with the continent’s largest European financial institutions, opening up new opportunities for attracting investment in renewable energy development, reports a 24KZ correspondent. The main outcome of the visit was agreements providing for the financing of projects to develop green energy, modernize power grids, and construct the Kambarata-1 Hydroelectric Power Plant.
Erlan Akkenzhanov, Minister of Energy of the Republic of Kazakhstan, said: “This is a high-altitude hydroelectric power plant that will provide Kazakhstan not only with electricity but also with water. The operation of this facility, particularly water and energy cooperation, is, of course, important to us, as Kazakhstan is located downstream. Providing the southern regions with water during the growing season is crucial for us.”
The project requires funding of $5.2 billion. The funds will be provided in the form of loans with the participation of the European Investment Bank and the European Bank for Reconstruction and Development.
Hussein Ozhan, Managing Director for Central Asia and Mongolia at the EBRD, said: “The memorandum is for $1.5 billion: $500 million each is planned for Kazakhstan, Kyrgyzstan, and Uzbekistan. But this is just the beginning; a whole series of steps lie ahead to implement this important regional project. The European Union notes Kazakhstan’s active participation in energy initiatives and highly values the country’s role as a reliable partner.
Brussels views Kazakhstan not only as a stable energy supplier but also as a source of critical materials, the importance of which for the European economy is becoming increasingly significant. This was precisely what was discussed on the sidelines of the Global Gateway forum.”
Roman Vasilenko, Kazakhstan’s Ambassador to Belgium, said: “The participation of the Kazakh delegation was extremely timely, and I believe that the agreements reached today and the frank discussions that took place will certainly contribute to accelerating the pace of cooperation.”
The forum discussed strengthening cooperation in energy security and green energy with the EU Commissioners for International Partnership and European Neighborhood Policy. A “Partnership Dialogue in Central Asia” was also held with the participation of the region’s energy ministers.
Authors: Galymzhan Karamanuly, Zhomart Akhmetov.
Source: https://24.kz/ru/news/social/734699-kazakhstan-ukreplyaet-sotrudnichestvo-s-evropoj-v-energetike
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