ASTANA. KAZINFORM Kazakhstan’s Ministry of Energy, JSC Samruk-Kazyna Sovereign Wealth Fund, and Saudi Arabia’s ACWA Power entered into an agreement on the implementation of a large renewable energy project, Kazinform has learned from the Ministry’s press office.
On March 1, Minister Bolat Akchulakov together with CEO of Samruk-Kazyna Almasadam Satkaliyev paid a working visit to Riyadh, Saudi Arabia, to meet with Minister of Energy of this country Abdulaziz ben Salman and the leadership of Saudi Aramco, SABIC and ACWA Power.
The meeting ended with signing an agreement on implementation of a renewable energy project between the Kazakh Ministry, Samruk-Kazyna and ACWA Power.
The document is aimed at development, financing, construction and operation of a wind power plant with the total capacity of 1GWt in Zhetysu region (Dzungarian Gates). Construction works will begin in 2025.
The agreement is called to achieve target indicators approved under the Concept of transition of Kazakhstan to green economy, as well as to create new jobs, attract additional investment and increase the generation of electric power in the country.
The sides also discussed the implementation and development of oil and gas and petrochemical projects, including further development of the RES.
The sides also agreed to consider an opportunity of signing an intergovernmental agreement to determine joint promising areas for boosting the two countries’ cooperation