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Spanish business is interested in working in Kazakhstan

Spaniards are interested in investing in Kazakhstan’s renewable energy sector, a correspondent of Khabar 24 informs.

Projects in these directions were discussed in Madrid as part of a business breakfast. Kazakhstan delegation conducted negotiations with heads of 30 leading companies of the Kingdom which are members of the Spanish Exporters and Investors Club. Let’s note that this union includes the largest Spanish companies and banks accounting for more than 20 % of Gross Domestic Product of the country. Spaniards have extensive experience in the sphere of renewable energy and are ready not only to invest, but also to share their know-how. Our delegates outlined the climate for investment and the auction system of Kazakhstan. They noted that the Republic has a vast plan to get 50 % of the energy from the alternative energy sources by 2050. Also, during the meeting, the sides discussed their cooperation in the agriculture, logistics and waste recycling.  

Aynur Sospanova, Director of Renewable Energy Sources Department of the Ministry of Economy of the Republic of Kazakhstan:

- Those investors who participate in auctions and win, they receive the 15-year contract on purchase of the total electricity they generate i.e. it is a 15-year off-take that allows them to ensure the return of their investments. It is the best international practice. Spanish companies have not entered the Kazakhstan market yet. The European companies are represented by the French business, British, while the Spanish companies are considering such possibility. The questions they asked speak about the fact that they are interested in participating in our market.

Antonio Bonet, the President of the Spanish Exporters and Investors Club:

 - Kazakhstan is very important country for us. It is not only the biggest one in the region of Central Asia, but also opens the greatest opportunities for foreign business. For this reason, I am optimistic and consider that Kazakhstan is a good platform for our investments. But, the Kazakhstan’s market is still little known, so that it is important to make more such presentations and visits. Such meetings help us become better acquainted with one another as well as to get the helpful information.