Saudi Arabia’s ACWA Power has signed a roadmap agreement with the Ministry of Energy of Kazakhstan and Samruk-Kazyna, the country’s Investment Development Fund, for a major wind energy and battery storage project, according to a press statement from the company.
The agreement paves the way for the construction of a 1GW project in Kazakhstan, marking ACWA Power’s entry into the country.
With an investment of $1.5 billion, this represents the largest Saudi investment in Kazakhstan’s power sector to date.
Scheduled for completion by 2027, the wind and battery storage project will play a crucial role in decarbonizing Kazakhstan’s power generation, supporting climate action and sustainable development.
ACWA Power’s investment underscores its commitment to Central Asia, a region of strategic importance.
By utilising wind turbines and battery storage, the company aims to unlock new opportunities in emissions abatement and energy transition.
This project not only signifies a major collaboration between Saudi Arabia and Kazakhstan but also contributes to ACWA Power’s global portfolio of power generation, water desalination, and green hydrogen plants.
