Kazakhstan launches QaJET platform at COP31, targeting $20 billion and 10 GW of renewables by 2035

Kazakhstan plans to officially launch QaJET, its national investment platform for a just energy transition, on 10 November at the UN COP31 climate conference in Antalya, the Ministry of Ecology and the Ministry of Energy told the business outlet LS (lsm.kz). The platform aims to mobilise about $20 billion, a sum the ministry describes as an indicative estimate of the country's investment needs.

Three tracks. QaJET has three investment areas: developing renewables, with plans to commission 10 GW by 2035; modernising power grids and energy storage systems; and electrifying end users. Funding is expected to come from national and international developers, energy companies, institutional investors, commercial banks and international financial institutions, including through grants and concessional loans.

What it does not do. According to the ministries, the platform sets no separate binding target for reducing the share of coal or other fossil fuels in the energy mix. Practical operation is scheduled for 2027, once the organisational structure, including a secretariat and a project support group, is in place. "QaJET does not imply automatic funding for all applicants," the Ministry of Energy said, adding that selection criteria will be set together with international financial institutions.

Background. The memorandum establishing QaJET was signed in April 2026 by the energy and ecology ministries and the European Bank for Reconstruction and Development (EBRD). According to the EBRD, the 10 GW of new renewable capacity would cut greenhouse gas emissions by more than 20 million tonnes a year, about 7% of energy-related emissions in a country that relies significantly on coal for power generation.

What next. The initiative was proposed by President Kassym-Jomart Tokayev at the UN General Assembly in 2023, Kazinform recalled. Kazakhstan has committed to carbon neutrality by 2060, and its updated nationally determined contribution provides for a 17% cut in emissions by 2035 compared with 1990.