Monday, February 8, 2016

Kazakhstan subsidizes development of green energy

The largest oil producer among former Soviet republics after Russia, is seeking to meet 3 percent of its energy needs from renewables by 2020 and 10 percent by 2030. Kazakhstan subsidizes renewable energy production to encourage investment in clean energy.
Solar power generators get 34.61 tenge ($0.09) per kilowatt-hour of electricity, which was worth the equivalent of $0.19/kWh when the tariff was set in June 2014. The country shifted to a floating exchange rate in August as tumbling crude prices and devaluations by Russia and China boosted the cost of defending the currency. Read more at http://www.bloomberg.com/