ACWA Power to build 1GW wind energy and battery storage facility in Kazakhstan

Saudi renewable energy developer ACWA Power has collaborated with the Republic of Kazakhstan’s Ministry of Energy and Samruk-Kazyna to build a 1GW wind energy and battery storage project in line with the Central Asian country’s 2050 Strategy.

The partnership marks ACWA Power’s market entry into Kazakhstan and represents the biggest Saudi investment in Kazakhstan’s power sector to date.

The $1.5 billion wind energy and battery storage facility in Kazakhstan is anticipated to decarbonize fossil fuel-based power generation in Kazakhstan on its scheduled completion in 2027 to support the country’s national climate action, integration of renewables, and sustainable development efforts.

ACWA Power to build 1GW wind energy and battery storage facility in Kazakhstan. Photo courtesy of ACWA POWER.

Mohammad Abunayyan — ACWA Power Chairman said: “The signing today once again exemplifies our commitment to partnering nations in their diversification endeavours and enabling sustainable progress.

“Public private partnerships are indeed key to facilitating the energy transition reliably and responsibly.

“And given the Republic’s values and emphasis surrounding decarbonization, we are delighted to expand our operations into the Kazakhstani market and support its government in reaching essential renewable energy targets.”

Kazakhstan aims to meet half of its energy needs through alternative and green energy technologies by 2050.

Founded in 2008 with the merger of two funds, Samruk and Kazyna, Samruk-Kazyna is the sovereign wealth fund of Kazakhstan.

Last month, ACWA Power announced four separate agreements for the development of new renewable energy in the Republic of Azerbaijan.

Recently, ACWA Power announced that it will build the $2.4 billion Kungrad wind farm in Uzbekistan.