At the site of JSC “NC “KAZAKH INVEST,” Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov held a meeting with Deputy Chairman of the Saudi ACWA Power Raad Al-Saady, where the parties discussed the implementation of a joint project with JSC “Samruk-Kazyna” to build a 1 GW wind power plant in the Zhetysu region worth $1.8 billion.
R. Al-Saady told the Kazakh representatives that construction and installation will start in 2026. In 2024, the company, together with the Ministry of Energy of the Republic of Kazakhstan, Akimat of the Zhetysu region, and KAZAKH INVEST, signed a roadmap for a project to develop sustainable energy in Kazakhstan. Work is underway to conclude an investment Agreement with the Government of the Republic of Kazakhstan.
At the same time, the Deputy Chairman shared the company’s plans to expand investment activities in Kazakhstan in several other areas. Thus, since January 2024, the management and technical specialists of ACWA Power have made several working visits to the country to explore the possibility of implementing projects in the fields of “green” hydrogen, power generation by combined-cycle turbines, and water desalination.
Following the meeting, G. Ospankulov said that the Investment Committee and KAZAKH INVEST are ready to provide full support to the company during the implementation of projects in Kazakhstan.
ACWA Power company specializes in the development, financing and operation of projects in the field of renewable energy, CCGT, “green” hydrogen and water desalination. ACWA Power is a world leader in water desalination. The company employs more than 4,000 people in 13 countries in the Middle East, Africa, Central and Southeast Asia. The total capacity of the projects exceeds 65.6 GW of electricity, and the total investment of the company in the projects is about $94 billion.