QAZAQ GREEN.  Kazakhstan's Energy Minister Almassadam Satkaliyev, signed several key agreements on green energy collaboration with international companies and development institutions at COP29, the UN Climate Change Conference held in Baku, Azerbaijan, according to the Ministry of Energy.

Among these agreements is a memorandum of understanding between Kazakhstan's Ministry of Energy and the Asian Development Bank (ADB). This partnership will support Kazakhstan’s goals for carbon neutrality through ADB’s Energy Transition Mechanism (ETM), which aims to accelerate the phase-out of coal-fired power plants, promote renewable energy adoption, enhance energy efficiency, and implement new technologies for electricity and heat production.

Additionally, an agreement was signed with the Chinese government for renewable energy projects. This collaboration will drive sustainable development in Kazakhstan, supporting the transition to clean technologies and reducing emissions, with anticipated investments exceeding $2 billion.

Another significant investment was secured with ABU DHABI FUTURE ENERGY COMPANY PJSC (Masdar) for a $1.5 billion wind power project in Kazakhstan’s Zhambyl region. This agreement is part of a broader intergovernmental effort with the UAE to advance renewable energy initiatives, the green transition, and climate action.

During COP29, Minister Satkaliyev also met with representatives from UNECE, ACWA Power, Masdar, and ADB, discussing further energy sector collaborations. He emphasized Kazakhstan’s commitment to enhancing its legal framework to attract more investments in renewable energy, noting, “Kazakhstan remains open and ready for active collaboration.”

The COP29 session, held from November 11-22 in Baku, features the World Leaders Climate Action Summit on November 12-13, highlighting global commitments to climate solutions.