ACWA Power, Kazakhstan to develop 1GW wind energy, battery storage
The project is expected to be completed in 2027.
ACWA Power entered a partnership with Kazakhstan’s Ministry of Energy and sovereign wealth fund Samruk-Kazyna to develop one gigawatt of wind energy and battery storage project with an initial investment of $1.5b.
In a statement, ACWA Power said projects is targeted to decarbonise fossil fuel-based power generation once its completion in 2027.
READ MORE: ACWA Power to develop RE projects in Azerbaijan
Kazakhstan aims to meet 50% of its energy demand with alternative and green energy technologies by 2050.
This partnership is Saudi Arabia’s biggest investment to date in Kazakhstan’s power sector.