BAKU, Azerbaijan, November 5. Kazakhstan is in an exceptionally advantageous position to continue using fossil fuels to ensure energy security, affordability, and economic growth, according to the National Energy Report prepared by the Kazenergy Association in cooperation with S&P Global.
The report notes that as the energy transition is adjusted to place greater emphasis on energy security and affordability, Kazakhstan can leverage its abundant natural resources and pursue a comprehensive strategy tailored to its specific circumstances.
"With large reserves of coal, oil and natural gas, the country is in an exceptionally advantageous position to continue using fossil fuels to ensure energy security, affordability and economic growth. In the future, as plans to build several nuclear power plants (NPPs) are implemented, Kazakhstan's extensive uranium reserves will help provide additional zero-emission baseload generation capacity," the report says.
At the same time, Kazakhstan has considerable potential not only in fossil fuels but also in renewable energy sources (RES).
The country's vast territory, areas with exceptionally favorable wind conditions and high solar power generation potential provide a basis for further development of the renewable energy sector.
Kazakhstan has already gained considerable experience in attracting large-scale international investment in the RES sector. In some years, auction results have also demonstrated some of the lowest prices for renewable electricity in the region.
