ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has announced a ground-breaking partnership agreement with the Republic of Kazakhstan’s Ministry of Energy and Samruk-Kazyna, the sovereign wealth fund of Kazakhstan to lead and develop a 1GW wind energy and battery storage project within the Central Asian country.The project marks ACWA Power’s entry into Kazakhstan, and with an initial investment of $ 1.5B, aims to support national climate action, renewables integration, and sustainable development efforts through innovation and technology integration. It is intended to successfully decarbonise fossil fuel-based power generation following its scheduled completion in 2027. The Kazakhstan 2050 Strategy which defines the course for long-term economic development is aimed at placing the nation among the top 30 global economies by 2050. Sustainability is a key priority, and the focus is to meet 50% of its energy requirements via alternative and green energy technologies by 2050. The country is fast tracking a number of clean energy initiatives to achieve set targets.
ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has announced a ground-breaking partnership agreement with the Republic of Kazakhstan’s Ministry of Energy and Samruk-Kazyna, the sovereign wealth fund of Kazakhstan to lead and develop a 1GW wind energy and battery storage project within the Central Asian country.The project marks ACWA Power’s entry into Kazakhstan, and with an initial investment of $ 1.5B, aims to support national climate action, renewables integration, and sustainable development efforts through innovation and technology integration. It is intended to successfully decarbonise fossil fuel-based power generation following its scheduled completion in 2027. The Kazakhstan 2050 Strategy which defines the course for long-term economic development is aimed at placing the nation among the top 30 global economies by 2050. Sustainability is a key priority, and the focus is to meet 50% of its energy requirements via alternative and green energy technologies by 2050. The country is fast tracking a number of clean energy initiatives to achieve set targets.
