ACWA Power signs roadmap agreement for wind energy-battery storage in Kazakhstan
The wind project will have a capacity of 1 gigawatt.
ACWA Power has signed a roadmap agreement for the development of a 1-gigawatt wind energy and battery storage project in Kazakhstan.
The roadmap agreement was signed with the Ministry of Energy of Kazakhstan and Samruk-Kazyna.
“The signing today exemplifies the remarkable progress of the 1GW wind and battery storage project, setting the stage for Kazakhstan's stride towards its clean energy ambitions,” Marco Arcellli, CEO, ACWA Power, said.
“The transformative project will have a profound impact on the country's socioeconomic landscape, and we are truly honoured to be an integral part of this journey. Our appreciation goes to the Kazakhstani government and the visionary leadership of HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, for their unwavering support, invaluable guidance and unparalleled commitment.”
The 1GW wind project represents ACWA Power's entry into Kazakhstan, and with an investment tag of US$1.5b. This is also the biggest Saudi investment in Kazakhstan's power sector to date.
With completion scheduled for 2027, the development will play a crucial role in decarbonising fossil fuel-based power generation.