The Senate of the Parliament of the Republic of Kazakhstan held an extended meeting of the Committee on Agrarian Issues, Nature Management, and Rural Development to consider the Law "On Ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the People's Republic of China on the Implementation of Renewable Energy Projects." Senate deputies and interested government agencies participated in the meeting.
The purpose of the Law is to ratify the intergovernmental Agreement aimed at developing renewable energy and sustainable development projects in Kazakhstan.
The Agreement envisages the unification of the two countries' efforts to combat global climate change by stimulating and implementing large-scale green energy projects. Specifically, the construction of three wind farms and one solar power plant in the Karaganda, Turkestan, and Pavlodar regions is planned. The projects will include the creation of integrated infrastructure for energy generation and storage.
According to the terms of the Agreement, the term of the electricity purchase and sale agreements for large-scale projects will be 25 years. The document also provides for mechanisms for guaranteed electricity purchases, participation in the real-time balancing market, and issues of foreign exchange pricing and settlements in accordance with the legislation of the Republic of Kazakhstan.
The implementation of these projects is aimed at annually reducing carbon dioxide emissions, increasing the country's energy security, strengthening the stability of the national power grid, and achieving carbon neutrality goals.
(Press Office of the Senate, 74-72-27)
