ACWA Power to Develop 1GW Wind Energy and Battery Storage Project in Kazakhstan

The project marks ACWA Power’s entry into Kazakhstan, and with an initial investment of US$1.5 billion, aims to support national climate action, renewables integration, and sustainable development efforts through innovation and technology integration.

It is intended to successfully decarbonise fossil fuel-based power generation following its scheduled completion in 2027.  

The partnership was formalised with a head of terms agreement signed by H.E. Bolat Akchulakov, the Minister of Energy of the Republic of Kazakhstan; Almassadam Satkaliyev, the Chairman of the Board of Samruk-Kazyna, and Mohammad Abunayyan, the Chairman of ACWA Power; in the presence of HRH Prince Abdulaziz bin Salman Al Saud, the Minister of Energy of the Kingdom of Saudi Arabia, who attended the signing ceremony today.

"The signing today once again exemplifies our commitment to partnering nations in their diversification endeavours and enabling sustainable progress. Public private partnerships are indeed key to facilitating the energy transition reliably and responsibly. And given the Republic’s values and emphasis surrounding decarbonization, we are delighted to expand our operations into the Kazakhstani market and support its government in reaching essential renewable energy targets", said Mohammad Abunayyan, ACWA Power Chairman.