Deal signed for ACWA Power's 1-GW wind project in Kazakhstan

Saudi Arabia and Kazakhstan have officially signed an executive cooperation programme that will pave the way for the construction of a 1-GW onshore wind farm in Kazakhstan by Riyadh-based ACWA Power Co (TADAWUL:2082).

The programme for cooperation was sealed by the governments of the two nations in the Kazakh capital Astana. The pact’s signing comes on the heels of a memorandum of understanding (MoU) from last summer outlining cooperation in a range of sectors, including renewable energy.

Under the initiative, Saudi electricity producer and water desalination company ACWA Power will lead an alliance that will install a wind power complex in the Zhetysu region of eastern Kazakhstan, near the Dzungarian Gate. Construction works on the project are slated to begin in the summer of 2025.

ACWA Power previously said the project marks its entry into Kazakhstan with an initial investment of USD 1.5 billion (EUR 1.37bn). Its commissioning is expected to take place in 2027.

The huge wind project will support Kazakhstan’s goal of meeting 50% of its energy needs through alternative and green energy resources by 2050.

(USD 1.0 = EUR 0.915)

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