ASTANA, Kazakhstan, September 12. The Saudi Arabian energy giant, ACWA Power, is set to significantly expand its investments in Kazakhstan with a major green energy project valued at $1.8 billion, Trend reports via KAZAKH INVEST.
The project was discussed at a meeting organized by JSC, KAZAKH INVEST, where the Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, Gabidulla Ospankulov, met with Raad Al-Saady, Vice Chairman of ACWA Power.
The collaboration with JSC "Samruk-Kazyna" will involve the construction of a wind power plant (WPP) with a capacity of 1 GW in the Zhetysu region. Construction is expected to begin in 2026.
This initiative is part of ACWA Power’s broader investment strategy in Kazakhstan. Since January 2024, the company has conducted several visits to explore additional opportunities in green hydrogen production, combined cycle power generation, and water desalination.
ACWA Power has already signed a roadmap for sustainable energy development with the Ministry of Energy, the Zhetysu administration, and KAZAKH INVEST. Work is currently underway on a final investment agreement with the Kazakh government.
Chairman Gabidulla Ospankulov stated that the Investment Committee and KAZAKH INVEST are fully prepared to support ACWA Power in realizing these projects.