Chinese investors to launch $2B renewable energy projects in Kazakhstan
Majilis deputies have approved the draft law “On ratification of the Agreement between the Government of Kazakhstan and the Government of China to implement renewable energy projects,” Qazinform News Agency reports.
Minister of Energy Yerlan Akkenzhenov said the agreement was signed on November 12, 2024, as part of the COP-29 Climate Forum.
“The agreement provides for implementation of three major investment projects in the field of renewable energy with a projected capacity of 1.8GW, including the construction of two wind power stations with an accumulated capacity of 1.5GW and one solar power plant with a capacity of 300MW,” he said.
The projects will be implemented in the territory of Pavlodar, Karaganda and Turkistan regions. These areas were selected due to their significant potential for solar and wind energy, as well as the opportunity to integrate new generating capacities into Kazakhstan’s Unified Power System.
All projects are aimed at creation of necessary energy infrastructure, including the construction of facilities for connection to electric grids and implementation of energy storage systems.
The total volume of investments amounts to $2.2 billion. Financing will be carried out with the participation of international financial institutions and banks.
According to the minister, the implementation of the projects will have a significant socio-economic effect, creating some 2000 permanent and 204 temporary jobs, and fostering the development of related sectors of the economy.
“From both economic and energy perspectives, the projects will generate more than 5.7 billion kWh of green electric energy and reduce carbon dioxide emissions to 4.5 million tons per year, which, in turn, will contribute to the achievement of climatic goals of Kazakhstan,” Akkenzhenov said.
JSC Samruk-Kazyna will join the project as a co-investor.
Earlier, it was reported that Azerbaijan launched the largest wind farm in the Caucasus.