Svevind and Kazakh Invest National Company JSC Sign a Memorandum of Understanding

PVTIME – The German investor and project developer SVEVIND Energy GmbH (“SVEVIND”) and Kazakh Invest National Company JSC (“KAZAKH INVEST”) have signed a memorandum of understanding regarding SVEVIND’s plan to develop and realise mega-sized facilities for producing green hydrogen by utilising the vast resources of wind and solar power in the Republic of Kazakhstan. SVEVIND plans to install wind and solar farms with a total capacity of 45 gigawatt (GW) in mainly steppe areas in Western and Central Kazakhstan. The green electricity will feed 30 GW of electrolysers to produce about three million tonnes of green hydrogen every year. The green hydrogen can either be exported directly to the ever-growing Eurasian markets or used locally to produce high-value green products, like ammonia, steel or aluminium.

Visualisation of large-scale wind farms and solar PV farms in Kazakhstan © Svevind Energy GmbH, 2021

SVEVIND presented its plans to the Kazakh Government during governmental consultations in Nur-Sultan on May 18 and 19. The overall development, engineering, procurement and financing phases are expected to take about three to five years. Construction and commissioning phases are predicted to take approx. five years.

“Hydrogen energy is very productive, technological and efficient to use. This energy resource can be used in transport, everyday life, energy and the railway industry. All of this contributes to the advancement of low-carbon development. The promotion of low-carbon development is in line with the strategic direction of development of the Republic of Kazakhstan and the obligations undertaken in the framework of international agreements. Through the development of hydrogen energy, Kazakhstan can get its niche in the world supply of hydrogen”, noted Mr. Meirzhan Yussupov, Chairman of the Board of Kazakh Invest and member of the Board of Directors.

SVEVIND`s majority owner and CEO Mr. Wolfgang Kropp said “SVEVIND aims to combine the outstanding natural resources in Kazakhstan with SVEVIND’s long-time experience and passion in project development to supply Kazakhstan and Eurasia with green, sustainable energy and products, ‘powered by nature’. The green hydrogen facilities will lift Kazakhstan among the global leaders of renewable energy and hydrogen at very competitive, ultra-low production costs. We trust that for green hydrogen, Kazakhstan is the place to be.”

KAZAKH INVEST is a national investment promotion agency of the Republic of Kazakhstan, the unified negotiator that provides one-stop-shop services to support investment activities from the initiative all the way to project implementation stage. KAZAKH INVEST’s mission is to promote the sustainable socio-economic development of the Republic of Kazakhstan by attracting foreign investment in priority sectors of the economy and provide comprehensive support to investment projects. Since December 26, 2018 and by Decree of the President of the Republic of Kazakhstan “On Measures for Further Improvement of the Government of the Republic of Kazakhstan” KAZAKH INVEST is owned by the Ministry of Foreign Affairs of the Republic of Kazakhstan.