Kazakhstan has brand new solar photovoltaic panels

A few months later, the EBRD loaned another $42.5 million toward a $75 million 63 MW solar photovoltaic power plant that Risen is building in Chulakkurgan, north of Shymkent. China, which now produces 70 percent of the world's solar panels, is well represented in Kazakhstan's new renewable projects, but it is not the only player.

As of now, there are 51 solar power plants in operation in Kazakhstan. The government aimed to have 28 solar power plants operational by the end of 2021 and successfully met this goal. The potential of solar energy in Kazakhstan is estimated at 2.5 billion kWh per year.

Kazakhstan has remarkable solar potential with a very well-designed auction system, a clear renewable capacity addition schedule, and a solid decarbonisation target. The country is now also including storage systems as part of its public procurement strategy in a move that will ease further integration of renewables into the grid.

Kazakhstan's largest solar project – a 100 MW field in Saran, Karaganda Province – was opened last year by a German company, also with EBRD backing. Russian engineers doubled capacity at the EBRD-backed Burnoye plant in Zhambyl in 2018.

Nan Yi, chairman of the Chinese energy company, revealed that since 2015, the company has been investing in new energy projects in Kazakhstan, including photovoltaic and wind energy stations.

The focus now is on leveraging solar's comparative advantages to drive forward Kazakhstan's decarbonisation and harness its significant solar resources. This report builds on the first edition of solar investment opportunities in Kazakhstan.