The Asian Development Bank (ADB) has entered into a transaction advisory services agreement with the Government of Kazakhstan to advance its Hydropower Development Program.
ADB’s role includes conducting pre-feasibility studies, aiding in the creation of auction documents and a power purchasing agreement template, and attracting competitive bids to engage investors.
The bank will assist in preparing and auctioning hydropower projects, targeting a total capacity of approximately 600 megawatts (MW) in the Alaqol, Balkash, and Irtysh/Zaysan basins in southeastern Kazakhstan.The agreement was formalized by Kazakhstan’s Energy Minister Almassadam Satkaliyev and ADB’s Cleo Kawawaki.
“Supporting Kazakhstan in renewable energy development, particularly by enhancing private sector involvement, is a key focus of our country partnership strategy for 2023–2027,” stated Ms. Kawawaki.
“ADB aims to help Kazakhstan tackle climate change effects, encourage decarbonization, and foster sustainable economic growth, thereby aiding the nation in boosting renewable energy capacity, lowering carbon emissions, and strengthening energy security.”
Kazakhstan’s Hydropower Development Program seeks to engage the private sector for the design, financing, construction, operation, and maintenance of various hydropower projects.
ADB will also promote knowledge transfer to build local expertise in private sector participation for the energy sector’s transformation.
Kazakhstan became an ADB member in 1994, and the bank has pledged around $7 billion in loans, grants, and technical support to both the government and private entities.
ADB’s initiatives in Kazakhstan include regional cooperation under the Central Asia Regional Economic Cooperation (CAREC) program, which Kazakhstan chairs this year.
Established in 1966, ADB is dedicated to fostering a prosperous, inclusive, resilient, and sustainable Asia and Pacific region while continuing efforts to eliminate extreme poverty. It comprises 68 members, with 49 from the region.
Source : Asian Development Bank (ADB)
