Empowering Green Progress: Unveiling the Triumphs and Challenges of Kazakhstan's 2023 Renewable Energy Auctions
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In 2018, auction bidding mechanism for selecting RES projects aiming to choose the most efficient projects at the lowest cost was launched in the Republic of Kazakhstan. This mechanism replaced the fixed tariffs that were in operation until 2018.?
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In 2023, a total of 16 auctions were conducted: 3 for small projects and 13 for large projects. These auctions followed a regular mode, but 2 auctions were deemed unsuccessful due to an insufficient number of participants (one for large HPPs and the other for small biopower plants). The auction for large HPPs was held again and was deemed valid.?
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Regarding the 2023 RES auctions, the maximum reduction in auction prices for the projects was as follows: SES - 59.86%, HPP - 57.5%, WPP - 54.23%, while Biopower was recognized as failed. Overall, these results affirm that the auctions not only lead to price reductions but also help establish market prices for electricity generated from renewable energy facilities.?
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The 2023 auctions were held according to the schedule approved by the Ministry of Energy of the Republic of Kazakhstan, spanning from August 31 to November 30, 2023.?
The total planned installed capacity for selection in 2023 is 860 MW, distributed?
among different types of power plants:??