How is this country looking to mobilise €18B for cleaner energy?

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: Kazakhstan aims to mobilise $20 billion (€17.4 billion) through its QaJET just energy transition platform, backed by the European Bank for Reconstruction and Development (EBRD)
• The initiative seeks to expand renewable energy, modernise electricity grids and support workers and coal-dependent communities as the country pursues carbon neutrality by 2060

🔭 The context: Around 85% of Kazakhstan’s electricity still comes from fossil fuels
• QaJET plans to direct approximately €8.7 billion towards 10 GW of new renewable capacity by 2035, another €4.35 billion towards grid integration and reliability, and the remaining funds towards electrification and energy-system upgrades
• Projects already in the pipeline include the 1 GW Mirny wind farm and modernisation of electricity distribution in Almaty

🌍 Why it matters for the planet: The platform is expected to reduce annual greenhouse gas emissions by more than 20 million tonnes, equivalent to around 7% of Kazakhstan’s energy-related emissions
• Its impact will depend on delivering new renewable capacity, strengthening the grid and managing the transition away from coal while protecting affected communities

⏭️ What’s next: QaJET is expected to be officially launched at COP31 in Antalya, Türkiye, in November 2026
• Partners will assess which regions are most exposed to the economic effects of decarbonisation, while Kazakhstan works to address grid constraints, develop energy storage and attract public and private investment

💬 One quote: “We are a carbon-dependent country, with large combined heat and power plants and power stations. These facilities and the energy networks need to be modernised. Workers in the energy sector also need to be retrained as part of the energy transition,” - Saule Sabieva, Climate Policy Director at Kazakhstan’s Ministry of Ecology and Natural Resources

📈 One stat: 10 GW — the new renewable energy capacity QaJET aims to support by 2035, with approximately €8.7 billion allocated to this goal

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