The new feed-in tariff law will provide support to renewable energy producers and will also allow renewables to compete with energy from fossil fuel-powered generators.
EBRD noted that along with the Ministry of Industry and New Technologies and the Ministry of Environmental Protection, it has worked to develop various aspects of the new legislation, beginning with the model for determining the feed-in tariff.
Commenting on the initiative, EBRD Energy Efficiency and Climate Change managing director Josué Tanaka said that the new feed-in tariff legislation is a significant step for the development of renewable energy in carbon-intensive Kazakhstan.
EBRD Kazakhstan director Janet Heckman said, "Leading the way in the Central Asian region, Kazakhstan has proclaimed a goal to work towards a green economy, and the EBRD considers this new legislation a milestone along that road.
"We have already financed biogas installations in Aktau and Shymkent, as well as the rehabilitation of the Shardara hydro-power plant. The new legislation will enable us to start the dialogue with companies willing to look into commercial renewable power generation."
To date, EBRD has invested approximately €400m in Kazakhstan under its Sustainable Energy Action Plan.
