Photo: Kris Møklebust / Pexels
Kazakhstan is preparing a planned investment portfolio of around €18 billion for renewable energy and electricity grid upgrades through QaJET, according to Inbusiness.kz, citing Russia’s Trade Representation in Kazakhstan. The figure describes projects for which financing is to be sought, rather than funds already raised.
What the EBRD confirms
The European Bank for Reconstruction and Development independently confirms that Kazakhstan announced QaJET at the Regional Ecological Summit 2026 in Astana. The bank says it helped develop the platform’s concept and will coordinate its implementation with national and international partners.
The EBRD links QaJET to Kazakhstan’s ambition to deploy 10 GW of new renewable capacity by 2035, estimating investment needs at around US$20 billion (€17.4 billion) from private and state sources. This is a separate estimate from the approximately €18 billion portfolio reported by Inbusiness.kz. The EBRD announcement does not confirm the spending breakdown below or state that the full amount has been secured.
How the proposed portfolio is divided
According to Russia’s Trade Representation, as reported by Inbusiness.kz, around €9 billion could go towards new renewable energy capacity, about €4.4 billion towards infrastructure connecting new plants to the national grid, and approximately €4.6 billion towards upgrading existing networks and introducing smart grid technologies.
The reported network upgrades include digitalising distribution systems, reducing wear on transmission lines and supporting greater electrification of industry, transport and businesses. Financing is expected to be raised in stages for specific projects.
What this means
The portfolio combines renewable energy development with the infrastructure needed to deliver electricity to consumers. The EBRD also identifies transmission and distribution networks, battery storage and electrification among QaJET’s areas of cooperation.
Inbusiness.kz, citing the Trade Representation, reports that the projects could create demand for cables, transformers, relay protection systems and industrial energy storage systems.
How financing is expected to be attracted
The Inbusiness.kz report identifies competitive renewable energy auctions, used in Kazakhstan since 2018, and long-term power purchase agreements as tools for attracting private investment. It lists the European Union, the United Kingdom, the Green Climate Fund, the Global Environment Facility and Climate Investment Funds as potential QaJET participants.
When the platform is expected to launch
Inbusiness.kz, citing the Trade Representation, reports that QaJET’s official launch is expected at COP31 in Antalya in November 2026. The EBRD’s separate announcement confirms that the platform had already been announced at the Regional Ecological Summit; it does not confirm the November launch timetable.
