ADB, Kazakhstan sign transaction advisory agreement for hydropower development

The partnership eyes a cumulative capacity of 600 megawatts.

The Asian Development Bank (ADB) and the Government of Kazakhstan have signed a transaction advisory services agreement for the latter’s Hydropower Development Programme thataims to invite the private sector to design, finance, construct, operate, and maintain multiple hydropower projects.

In a statement, ADB said it will assist in preparing and auctioning hydropower projects with private sector participation for a potential cumulative capacity of around 600 megawatts across the Alaqol, Balkash, and Irtysh/Zaysan basins located in the southeast of the country.

“This will help Kazakhstan achieve its goal of increasing its renewable energy capacity, reduce carbon emissions, and enhance the country’s energy security,” said ADB head of the Office of Markets Development and Public–Private Partnerships Cleo Kawawaki.

ADB will also facilitate knowledge transfers to develop local expertise in promoting private sector participation to support Kazakhstan’s energy sector transformation.

Earlier,the ADB and the Kazakhstan Electricity Grid Operating Company inked a $123m financial deal that will expand the high-voltage transmission network in the southern region of Kazakhstan. Thiswill fund the construction of 500 kilovolts (kV) overhead transmission lines and the reconstruction and renovation of the Shu, Jambyl, and Shymkent 500 kV substations.