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.

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