Creation and development of Financial Settlement Center of Renewable Energy LLP is associated with the adopted course of the Republic of Kazakhstan on the development of the renewable energy sector (hereinafter – RES). In order to create conditions for the development of the RES sector, there was an adoption of the mechanism of state support based on the implementation of a centralized purchase of renewable electric energy by single buyer.
In order to implement this mechanism, System Operator (KEGOC JSC) in accordance with the Law of the Republic of Kazakhstan dated 4th of July 2009 No. 165-IV "On the Support for the use of renewable energy sources " created Financial Settlement Center of Renewable Energy. By the Decree of the Government of the Republic of Kazakhstan No. 1281 of November 29, 2013, Financial Settlement Center is defined as financial settlement center on support of renewable energy sources.
In accordance with the Law of the Republic of Kazakhstan dated July 4th, 2013 No. 128-V "On introduction of amendments and additions to some legislative acts of the Republic of Kazakhstan on issues of support for the use of renewable energy sources" FSC carries out centralized purchase and sale of electric power, produced by renewable energy sources and delivered to the electric networks of the unified electric power system of the Republic of Kazakhstan.
years of successful work in the market
new RES facilities put into operation
million USD of investments attracted to the RES sector
to paid obligations to the RES objects
According to the Order of the Minister of Energy of the Republic of Kazakhstan No. 357 dated September 7, 2018, Financial Settlement Center has been determined as a single purchaser, carrying out a centralized purchase of services to maintain the availability of electrical power and centralized provision of services to ensure the availability of electrical power to bear the load.