Ministry of Energy, Samruk-Kazyna, KMG and Total Agreed on the Alternative Energy Development in Kazakhstan
The Ministry of Energy of the Republic of Kazakhstan, Samruk-Kazyna JSC, JSC NC “KazMunayGas” and Total Eren S.A have signed a Memorandum of Understanding.
The signed document is intended to develop, finance, build and operate the hybrid power plants with a total capacity of about 1 GW, using wind energy in Kazakhstan. At the same time, the project plans to use an energy storage system based on energy accumulation, build-up and storage technologies.
Total Eren S.A, for its part, is to raise funds for the project from the international financial institutions.
The project will be implemented on a staged basis. At the first stage, the project capacity will be 200 MW with the respective electric power storage infrastructure. The project completion is scheduled for the end of 2024.
“In accordance with the approved Concept of Kazakhstan Transition to the Green Economy, the Ministry of Energy is systematically developing the renewable energy sector. This is particularly important for the southern regions of the country. In this context, for our part, we are ready to assist in the project implementation,” Magzum Mirzagaliyev, Minister of Energy, said.
“Today, the global energy industry is on the cusp of great changes. That is why, as a player in the global energy market, KazMunayGas is studying the energy transition prospects and alternative energy development. We have already developed and adopted the Low-Carbon Development Programme 2031. We are interested in renewable energy projects and consider ‘green’ energy as one of the greatest potential for decarbonisation of our operations,” Alik Aidarbayev, Chairman of KMG’s Management Board, stated.