Kazakhstan attracts nearly $3.7 billion in green energy investments at COP29 summit

At the COP29 climate summit in Baku, Kazakhstan signed several cooperation documents with international companies and development institutions in the field of green energy development, Report informs via Kazakh media.

Specifically, with the participation of Energy Minister Almassadam Satkaliyev, a memorandum of understanding was signed between the ministry and the Asian Development Bank (ADB). The document envisions cooperation in achieving carbon neutrality goals through an energy transition mechanism (ETM) developed by ADB experts. The ETM includes steps to improve energy efficiency and implement new technologies in electricity and heat production.

Among the signed documents is also an agreement with the Chinese government on implementing renewable energy projects, which involves cooperation in combating global warming, transitioning to environmentally friendly technologies, and reducing emissions. The investment amount for these projects is expected to exceed $2 billion.

Additionally, an investment agreement was signed with Abu Dhabi Future Energy Company (Masdar) regarding a wind power plant project in Kazakhstan's Zhambyl region. The expected investment amount for this project is $1.5 billion.