Shearman And Sterling

Update on the Central Asian Power and Renewables Energy Market

June 23, 2021

Update on the Central Asian Power and Renewables Energy Market

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UPDATE ON THE CENTRAL ASIAN POWER AND RENEWABLES ENERGY MARKET

The last 18 months have seen a flurry of activity in the Central Asian renewable energy sector with countries seeking to incubate the industry from a standing start. The sudden drive for clean energy has been prompted by a confluence of motivations:

a) projected increase in demand for power in these countries due to increased industrialization and improvement in living standards;

b) to capitalize on abundant renewable energy resources to meet climate change targets in the Paris Agreement; and

c) to free more hydrocarbon reserves to be supplied to international markets.

The electricity markets in the region have traditionally been dominated by vertically integrated, state-owned monopolies relying predominantly on burning oil and gas (often in mature, inefficient power plants) as well as hydropower for their energy generation.

Thanks to Saloni Patel, who contributed to this publication.

Read Update on the Central Asian Power and Renewables Energy Market.

Authors and Contributors

Iain Elder

Partner

Project Development and Finance

+44 20 7655 5125

+44 20 7655 5125

+971 2 410 8100

+971 2 410 8100

London

Colm Ó hUiginn

Counsel

Project Development and Finance

+44 20 7655 5683

+44 20 7655 5683

London