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.

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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.