Kazakhstan says it will spend 1% of its annual GDP on producing green energy each year until 2050.
Coal-fuelled power stations currently account for around 80% of Kazakh electricity production.
However, the country aims to reduce this number to 49% by generating energy from wind and sun (11%), hydro (10%) and nuclear (8%) sources, with oil and gas responsible for the remaining (21%) by 2030.
The shift is dependent on high natural gas prices, claims Kazakh Environmental Protection Minister, Nurlan Kapparov.
“According to our estimates, total investments – state and private – needed to implement this programme will amount annually to an average of $3.2 billion in the period until 2050, or roughly 1% of GDP,” said Kapparov.
The “green revolution” can add annually up to 3% of GDP to Kazakhstan’s current economic growth in the period until 2050, Kapparov said, and create up to 600,000 new jobs.
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