On October 13, 2021, CEO of the AIFC Green Finance Centre Aidar Kazybayev held a meeting with Chairman of the Board of Directors of the "Qazaq Green" Association Nurlan Kapenov. At the meeting, the parties agreed on cooperation in the implementation of green projects.
Kazakhstan plans to increase the share of renewable energy sources (RES) in total energy production to 6% already in 2023. In 2020, 25 renewable energy projects were commissioned, their total capacity was almost 600 MW. The volume of attracted investments exceeded $510 million. Over the next four years, it is planned to commission more than 60 new renewable energy projects with a total capacity of 2,400 MW and an investment volume of more than $2.5 billion.
Thus, the parties intend to consolidate their efforts within the framework of supporting the development of the renewable energy industry.
The Green Finance Centre has experience in supporting the issuance of green bonds for renewable energy projects and will provide the necessary consulting support for attracting green and sustainable financing for projects.
In turn, the “Qazaq Green” Association has extensive practical experience in the implementation of renewable energy projects both in Kazakhstan and abroad, with a total installed capacity of more than 400 MW and is ready to provide services for the preparation and implementation of turnkey renewable energy projects, as well as to disseminate information about the tools of the Green Finance Centre among the renewable energy business community.
In addition, the Association expressed interest in cooperation with the Eurasian Environmental Fund on the implementation of green projects that contribute to achieving carbon neutrality in Kazakhstan.
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The Astana International Financial Centre (AIFC) was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Management council of the AIFC during the council’s meeting on July 2, 2020 approved the Centre’s development strategy until 2025. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.
The mission of the AIFC is in assisting the sustainable and long-term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”
For more information about the AIFC, follow the link www.aifc.kz
The AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds. In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).
The "Qazaq Green" Association was established in order to develop a "green" economy in Kazakhstan, support the development of the industry and the successful implementation of renewable energy projects and unites investors, developers, equipment manufacturers, international financial institutions and universities. The Association is accredited by the Ministry of Energy of the Republic of Kazakhstan, the Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan, NCE RK "Atameken" and is currently one of the key expert centers for the development of renewable energy in Kazakhstan for both government agencies and the business community. The Association publishes the industry magazine QazaqGreen, is the organizer of the International Renewable Energy Festival Solar Fest Qazaqstan, on an ongoing basis holds discussion platforms on the most pressing issues of the development of "green" energy in our country.
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