Market Trends of Kazakhstan Power EPC Industry
This section covers the major market trends shaping the Kazakhstan Power EPC Market according to our research experts:
Renewable Energy Sector Is Expected To Witness a Significant Growth
- The power industry remains a key factor in Kazakhstan's industrial development and economic growth as power generation accounts for about one-tenth of all industrial output. The government of Kazakhstan has developed an action plan for electric power development up to 2030, which includes a list of proposed power plants for modernization or reconstruction as well as the construction of new facilities.
- Production and consumption of energy from renewable sources has been steadily increasing. As of 2018, the generation of renewable in Kazakhstan was 0.7 TWh. There is considerable potential in renewable power generation, and the government expects the total share of renewable power generation to rise to 11% by 2030.
- The wind farm is expected to increase the installed wind generating capacity in the country by 25% and expects to achieve the ambitious goal of the Republic of Kazakhstan to increase electricity production through renewable energy sources to 50% by 2050.
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Solar Power Sector is Expected to Drive the Market
- Solar power generation in renewables energy is expected to meet the highest electricity demand on Kazakhstan's power grid. As of 2018, the solar power generation was 0.1 TWh and the installed capacity was 209 MW.
- Indian solar PV EPC Company Sterling and Wilson expects to have 200 MW of capacity in Kazakh solar market by end of 2020.
- METKA EGN have signed Engineering, Construction & Procurement contracts, with Total Eren, for two photovoltaic projects in Kazakhstan, totaling a capacity of 128 MWp. The first Project (Nomad) is a 28 MWp PV power plant and the second Project (M-KAT) is a 100 MWp PV Power Plant.
- Nomad and M-KAT are expected to generate 225 GWh per year together, enough to supply the needs of about 40,000 Kazakh people while saving about 300,000 tons of CO2 per year. Risen Energy completes 40-MW PV plant in Kazakhstan.
- The scenario is expected to drive the demand for the power EPC in the country over the forecast period.
