ASTANA – The Kazakh Ministry of Energy, Samruk Kazyna Sovereign Wealth Fund, and Saudi Arabia’s ACWA Power company signed an agreement to build a one-gigawatt wind farm in the Zhetisu Region during a working trip of Energy Minister Bolat Akchulakov to Riyadh on March 1, the ministry’s press service reported. The construction will start in 2025.
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The implementation of the project on renewable energy sources followed the agreements on expanding trade, economic, and investment cooperation reached during the official visit of President Kassym-Jomart Tokayev to the Kingdom of Saudi Arabia in 2022.
The project seeks to achieve the targets approved by Kazakhstan’s concept on the transition to a green economy, create new jobs, attract additional investment, and scale up renewable energy in the country.
During the visit, the sides also addressed the delivery of oil and gas and petrochemical projects and the development of renewables while considering signing an interdepartmental agreement to determine promising areas for bilateral cooperation.
