Signing of the Memorandum of Understanding between AIIB and the Ministry of Energy of the Republic of Kazakhstan
On Nov. 28, 2019, Asian Infrastructure Investment Bank (AIIB) Director General of Investment Operations Yee Ean Pang and the Acting Minister Makhambet Dosmukhambetov of the Ministry of Energy of the Republic of Kazakhstan signed a Memorandum of Understanding (MOU) to enhance the investing environment for renewable energy in Kazakhstan.
Based on its expertise, AIIB will assist the Ministry to develop its renewable energy capacity by supporting the institutional development of the sector and the application of modern mechanisms for project financing.
The Ministry and AIIB acknowledge that renewable energy projects have significant importance to help the government meet its commitments under the Paris Agreement. The signing of the MOU sets the foundation for AIIB to finance renewable energy projects in the country.
One project under consideration by AIIB’s Board of Directors is to develop, construct, and operate a 100 MW wind farm in Southern Kazakhstan, approximately 9 km southwest of Zhanatas in the Zhambyl region.
Additional information about the project can be found here.