Italian company wins solar power plant bid in Kazakhstan

AKIPRESS.COM - An auction to select an investor for the construction of a solar power plant with an installed capacity of 50 MW near the village of Shaulder, Turkestan region in southern Kazakhstan took place in Kazakhstan, the New Europe reports.
LLP Arm Wind, whose main shareholder is the Italian oil major ENI, has won in the auction, the press service of the Ministry of Energy of Kazakhstan said on November 28.
"Seven companies from six countries: Kazakhstan, Germany, Italy, China, the Netherlands and Russia took part in the auction. During the trading session, the marginal auction price - 29 tenge/ kWh decreased by 2.3 times. The winner of the auction was Arm Wind LLP with a price of 12.49 tenge/kWh, which is approximately 3.2 US cents," the Kazakh Energy Ministry said.
According to the Kazakh Ministry of Energy, this tariff is a record low on the solar energy market in Kazakhstan.
"The winner of the auction has the right to conclude a 15-year contract with a single renewable energy purchaser - the Settlement and Financial Center for RES - and sell all generated electricity at an auction rate," the ministry said.
At the same time, the ministry said the tariff is subject to annual indexation, taking into account changes in the exchange rate of the national tenge and taking into account inflation.