EDB brings together Central Asian regulators to develop approaches to financing renewable energy

On 1–3 October, the Eurasian Development Bank Academy held a specialised seminar entitled ‘Renewable Energy Development in Central Asian Countries.’ The event aimed to develop coordinated solutions for a successful energy transition and balanced development of the region's energy systems.

The seminar brought together more than 40 participants from six countries, including representatives of energy ministries, financial regulators, development institutions and private investors. The format was unique in its cross-sectoral approach, with discussions bringing together experts in energy, budget planning and investment.

Particular attention was paid to the exchange of practical knowledge and regional cooperation in the following areas critical to the development of the renewable energy market in Central Asia:

• Financial mechanisms and pricing. Participants analysed RES support models: auctions in Kazakhstan, PPP schemes in Uzbekistan, and opportunities for expanding market instruments.
• Localisation of production. The need to develop regional value chains to reduce capital costs and stimulate industry was noted.
• Demand management. Market-based methods for fostering a culture of rational energy consumption were discussed.
• Risk minimisation. The EDB presented a wide range of financial instruments to support renewable energy projects, from project financing and lending to guarantees and letters of credit.

‘Central Asia has enormous potential in the field of renewable energy. But it will only be realised most effectively through the coordinated efforts of the countries in the region. Today's discussions showed the willingness of regulators to share their experience and best practices. And the EDB will continue to support this dialogue,’ said Evgeny Vinokurov, Chief Economist of the Bank.

At a separate session, the EDB presented joint initiatives with business partners. These include the Bishkek Solar power plant, the Kulanak hydroelectric power plant and a wind farm in the Karaganda region. These projects demonstrate the Bank's approach to developing a sustainable energy sector in the region.

We would like to add that the EDB Academy is an educational initiative of the Bank, created to improve the competencies of civil servants of member countries and partners in areas such as project financing, investment instruments, sustainable development and energy project management.