Experts discussed “Alternative (geothermal) energy financing mechanisms”

Experts discussed “Alternative (geothermal) energy financing mechanisms”
On July 3 this year within the framework of the International “Green Growth Forum” of AIFC, the KAZENERGY Association took part in the panel session on the issue: “Alternative (geothermal energy) financing mechanisms”.

The purpose of the event is an expert discussion of the state and prospects for the development of geothermal energy sources in the Republic of Kazakhstan with the participation of leading foreign and domestic research and expert organizations.

Bulat Akchulakov, the Vice-Minister of Energy of the Republic of Kazakhstan and Adelino da Silva, the Portuguese Ambassador to Kazakhstan have made a welcome speech. Talgat Karashev, the Executive Director of KAZENERGY, Sigsteinn Gretarsson, the Executive Director of the Arctic Green Corporation, Oleg Ryaskov, Representative of USAID Power the Future Project, Sergey Spector, the Deputy Director of Hydrospecgeology, the Expert on Kamchatka geothermy and others presented their reports and opinions.

Talgat Karashev, the Executive Director of the KAZENERGY Association noted in his speech that holding such events is becoming increasingly important. Since, Kazakhstan is actively pursuing a state policy on the development of renewable and alternative energy sources as one of the priority vectors for the development of the energy complex.

He stressed that the KAZENERGY Association stands for the development of Renewable Energy Sources (RES). However, it should not be forgotten about the social orientation and significance of traditional energy. According to the Executive Director, KAZENERGY, large-scale construction of RES is payback and cost-effective, when the cost of electricity received from them is less than or equal to the price of electricity generated by traditional power plants and will be able to compete in the electricity market.

The economic component should be the basis for the further development of the renewable energy sector, in particular geothermal sources. The most effective and low-cost projects should be realized.

At the same time, the Association can take part in the development of new technological regulations and technical standards, legislative acts and studies of this sector potential development, as well as hold discussions on innovative and technological solutions based on the Scientific and Technical Council.

Following the results of the session, it is expected to develop recommendations to the Government of the Republic of Kazakhstan on carrying out research in the field of geothermal energy and the creation of the International Association for Geothermal Energy.