Kazakhstan, China Seal Deal on Major Green Energy Projects

photo: Kazinform

Kazakhstan, China Seal Deal on Major Green Energy Projects

Kazakhstan has taken a major step toward expanding its green energy portfolio, as MPs approved a draft law ratifying an agreement with China on the implementation of large-scale renewable energy projects.

Presenting the document, Energy Minister Yerlan Akkenzhenov said the agreement was signed on November 12, 2024, on the sidelines of the COP29 Climate Forum, The Caspian Post reports via Kazakh media.

Under the agreement, three major investment projects with a total installed capacity of 1.8 GW will be implemented in Kazakhstan. These include the construction of two wind power plants with a combined capacity of 1.5 GW and one 300 MW solar power plant.

The projects will be rolled out in the Pavlodar Region, Karaganda Region, and Turkistan Region-areas selected for their strong wind and solar potential, as well as their ability to integrate new generation facilities into Kazakhstan’s Unified Power System.

In addition to power generation, the projects envisage creation of supporting energy infrastructure, including grid connection facilities and the deployment of energy storage systems. Total investment is estimated at $2.2 billion, with financing involving international financial institutions and banks.

Akkenzhenov said that the initiatives will deliver a significant socio-economic boost, creating around 2,000 permanent jobs and 204 temporary jobs, while also stimulating growth in related industries.

From an environmental standpoint, the projects are expected to generate more than 5.7 billion kWh of green electricity annually and cut carbon dioxide emissions by 4.5 million tons per year, supporting Kazakhstan’s long-term climate commitments.

The state holding Samruk-Kazyna will participate as a co-investor. The move follows broader regional momentum, after Azerbaijan recently launched the largest wind farm in the Caucasus.

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Kazakhstan, China Seal Deal on Major Green Energy Projects

Kazakhstan has taken a major step toward expanding its green energy portfolio, as MPs approved a draft law ratifying an agreement with China on the implementation of large-scale renewable energy projects.