The US Navy & Department of Defense recently announced storage investments totalling $100m as utilities begin relying on the military to bail them out in times of crisis
ACWA signs 1GW Kazakhstan wind-storage roadmap agreement
Saudi-headquartered ACWA Power has signed a ‘roadmap agreement’ with the Ministry of Energy of Kazakhstan and Samruk-Kazyna, Kazakhstan's Investment Development Fund and sovereign wealth fund, for a 1GW wind energy and battery storage project within the Central Asian country.
This milestone provides a “clear direction for the formalisation of processes and paving the way for construction”, a statement said.
The project represents ACWA Power's entry into Kazakhstan, and with an investment tag of US$1.5 billion, marks the biggest Saudi investment in Kazakhstan's power sector to date.
Completion is scheduled for 2027.