Where Kazakhstan Plans to Secure $20 Billion for Green Energy
On November 10, at the UN COP31 conference in Antalya, Kazakhstan plans to launch the QaJET energy transition investment platform, reports LS, citing the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan.
According to the ministry, the platform aims to attract approximately $20 billion. This is the estimated amount of investment the country needs for its energy transition. The funds are planned to be allocated to three areas: introducing 10 GW of renewable energy capacity by 2035, modernizing power grids and energy storage systems, and electrifying end consumers. The projects are expected to be financed from various sources, including developers, energy companies, institutional investors, government organizations, Kazakhstani banks, international financial institutions, and development institutions. Grants and concessional financing are also envisaged. QaJET does not have a mandatory target for reducing the share of coal and other fossil fuels in the energy balance.
The Ministry of Energy of the Republic of Kazakhstan clarified that, in practice, the platform will become operational in 2027, after its structure—including a secretariat and a project support group—is established. There will be no automatic financing for all applicants. Projects will be evaluated based on their alignment with the platform's goals, technical and economic parameters, investment attractiveness, and the requirements of financial organizations. Specific participation conditions and selection criteria will be determined later in collaboration with international financial institutions and partners.
