Kazakh Energy Minister Almasadam Satkaliev signed a number of documents on cooperation with international companies and development institutions in the field of green energy development on the sidelines of the COP 29 climate summit in Baku (Azerbaijan), which is being held under the auspices of the UN Climate Change Conference.
In particular, the head of the Ministry of Energy signed a memorandum of understanding between the Ministry of Energy of Kazakhstan and the Asian Development Bank (ADB).
The document provides for cooperation in achieving carbon neutrality goals through the ADB Energy Transition Mechanism (MEP), which aims to accelerate the decommissioning of coal-fired power plants and increase the use of renewable energy sources, increase energy efficiency and introduce new technologies in the production of electricity and thermal energy.
Among the signed documents is also an agreement with the Government of the People's Republic of China on the implementation of projects in the field of renewable energy sources, which involves interaction between the parties in the fight against global warming through the promotion, development and implementation of projects in the field of renewable energy sources, sustainable development in the territory of the Republic of Kazakhstan, the transition to environmentally friendly technologies and emission reduction. It is assumed that the amount of investments in these projects will amount to more than 2 billion US dollars.
An investment agreement has also been concluded with ABU DHABI FUTURE ENERGY COMPANY PJSC (MASDAR) in relation to the wind power plant project in the Zhambyl region of the Republic of Kazakhstan. The expected investment amount for this project will amount to 1.5 billion US dollars.
This document was concluded as part of the implementation of an intergovernmental agreement signed with the UAE with the aim of developing renewable energy projects, implementing a "green transition", reducing carbon emissions and combating climate change.
In addition, within the framework of the conference, the Minister of Energy of Kazakhstan held a series of meetings with representatives of the UNECE, ACWA Power and Masdar companies, ADB.
During the conversations, A.Satkaliyev expressed his intention to continue cooperation within the framework of new initiatives in the energy sector.
"Kazakhstan is actively updating the legislative framework to increase the investment attractiveness of the renewable energy sector. Our country is always open and ready for active cooperation," the Minister stressed.
For reference: The 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) is being held in Baku from November 11 to 22. The highest-level event, the Summit of World Leaders on Climate Action, will take place on November 12-13 within the framework of COP29.

Source : https://www.gov.kz/memleket/entities/energo/press/news/details/882449