BAKU, Azerbaijan, November 10. Kazakhstan invested a total of 917 billion tenge (approximately $2.1 billion) in renewable energy development between January 2014 and December 2025, according to the National Energy Report prepared by the Kazenergy Association in cooperation with S&P Global.
According to the report, the largest investment volumes were recorded in 2019 and 2023, exceeding $400 million in each year.
The introduction of an auction-based system in 2018 simplified the investment process and helped channel investor interest into the sector. Investments almost tripled that year and more than doubled in 2019.
This upward trend was interrupted by the COVID-19 pandemic in 2020. Annual investment volumes continued to decline for three years, until 2023, when they reached a new record of 199 billion tenge (approximately $437 million). In 2024, investments fell sharply to around 22.5 billion tenge ($48 million).
In 2025, investment in renewable energy rose substantially again, reaching 175 billion tenge (approximately $335 million), close to the 2023 level.
"Between 2018 and 2025, Kazakhstan held 103 auctions for the selection of renewable energy projects, with a total capacity of 6.9 GW," the report says.
A total of 206 projects with a combined capacity of 5.8 GW were selected through these auctions. Of this amount, 3.43 GW accounted for wind power plants, 1.42 GW for solar power plants, 0.95 GW for small hydropower plants, and 0.03 GW for biogas facilities.
More than 260 companies from 14 countries reportedly participated in the auctions, including Kazakhstan, Russia, China, Türkiye, the Netherlands, France, the United Arab Emirates, Bulgaria, Italy, Germany, Malaysia, Singapore, South Korea, and Spain.
In April 2025, Kazakhstan held its first auction for large-scale wind power projects equipped with energy storage systems, offering 1 GW of capacity in the Northern Energy Zone.
