Acwa Power in deal to develop 1GW wind project in Kazakhstan
RIYADH, March 9, 2024
Saudi-listed Acwa Power, the world's largest private water desalination company, has signed a strategic alliance pact with Kazakhstan for the construction of a 1GW wind power plant in the Central Asian country. Work on the wind power plant will begin next year.
This comes following the MoU signed in June last year by Saudi Arabia and Kazakhstan with regard to an executive programme for co-operation.
The programme includes cooperation in a number of energy sectors such as oil, gas and their derivatives, refining, petrochemicals, electricity, clean hydrogen, renewable energy, energy efficiency, and energy storage.
It is aimed at implementing projects in Kazakhstan in the fields of renewable energy, innovations, combating global warming, and promoting projects that contribute to achieving the goals, priorities, and commitments of both countries in the areas of energy security and transitions.
The agreement was inked by Prince Abdulaziz bin Salman bin Abdulaziz, the Saudi Minister of Energy, and Almasadam Satkalyev, the Minister of Energy of Kazakhstan in the presence of President Kassym-Jomart Tokayev, President of the Republic of Kazakhstan in the Kazakh capital Astana.
The programme also contributes to supporting Kazakhstan's endeavours to achieve its goals and policies in the field of reducing emissions, including achieving neutrality by 2060. Additionally, it supports close cooperation between the Kingdom's companies and Kazakhstan in various related fields.
On the new power project, Mohammad Abunayyan, Founder & Chairman of Acwa Power, said: "Through strategic alliances, Acwa Power is committed to taking a fundamental role in Kazakhstan's ambitions, embarking on a transformative journey towards sustainable energy solutions."
"Our collaboration signifies more than an investment—it's a dedication to supporting Kazakhstan's energy development goals, which are in turn aligned with Acwa Power’s own vision of a future powered by clean energy," he added.-TradeArabia News Service
