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Energy Efficiency Financing and Delivery Mechanisms in Kazakhstan

June 4, 2014

Kazakhstani and International Counterparts Agree on Coordination Efforts

ASTANA, June 4, 2014 – Options for developing and implementing energy efficiency financing and delivery mechanisms in Kazakhstan have been extensively discussed today at the high-level conference organized by the Ministry of Industry and New Technologies jointly with JSC “Institute for the Development of Electricity and Energy Saving” and the World Bank.

International experience with scaling up energy efficiency financing and implementation, including examples from Bulgaria, China, Poland, and Lithuania, was provided to over 60 conference participants representing the involved ministries and agencies, companies and associations, and international development partners.

Today, in line with the Kazakhstan’s green growth priorities, including its aspiration to carry out the EXPO “Energy of the Future” in 2017, the importance of energy saving and energy efficiency to support sustainable development in Kazakhstan is gaining increased attention. In his keynote address, Albert Rau, First Vice-Minister of Industry and New Technologies, stated that the enabling environment has been strengthened in the country and highlighted the need for scaled-up implementation.

Three main topics received high attention of the conference: establishing and operationalizing of the energy efficient Revolving Fund, energy service company business models and credit lines, and residential energy efficient financing and incentive programs.

“As the government moves into the implementation phase of the “Energy Efficiency-2020” Program, this Conference is very timely. The experiences and lessons learned in other countries will help Kazakhstan identify and develop the best-suited financing and delivery mechanisms for realizing the energy efficiency goals,” said Zhakyp Bokenbayev, Chairman of the Board, JSC “Institute for the Development of Electricity and Energy Saving”.

The event also reviewed Kazakhstan experience and potential financing opportunities from the perspective of other development partners. Representatives of IFC, EBRD, UNDP, USAID, ADB, Eurasian Development Bank, and Energy Charter, shared their views and experiences.

“Energy efficiency is a priority for the World Bank Group because it is a win-win policy: it helps improve economic competitiveness, energy security and environmental sustainability. We stand ready to assist Kazakhstan in achieving its energy efficiency goals through the recently approved Energy Efficiency Project, which will help raise the energy efficiency in public and social facilities and catalyze the development and deployment of financial instruments,” said Saroj  Kumar Jha, World Bank Regional Director for Central Asia.

As a result of the event, the Ministry is developing a Work Plan to strengthen coordination with the development partners in promoting the energy efficiency agenda in Kazakhstan.

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