Kazakhstan ratifies agreement with UAE for 1GW wind farm projectPresident Kassym-Jomart Tokayev has signed into law the ratification of an agreement between Kazakhstan and the United Arab Emirates to build a 1GW wind power plant in the Zhambyl region, the presidential press service announced Monday.The agreement was signed in Dubai on December 2, 2023.The project, backed by a UAE-Kazakh consortium, includes a 300 MW energy storage system to balance supply during peak demand. Electricity will be priced at $0.0449 per kWh, a rate officials say accounts for construction costs and investor returns while remaining competitive.Kazakhstan's KEGOC will handle grid integration, while local authorities provide land leases. The agreement guarantees compensation for investors against regulatory changes or competing projects that might affect wind patterns near the site.Energy Minister Almasadam Satkaliyev noted the project will introduce Kazakhstan's first large-scale energy storage systems and add 425 km of transmission lines to connect northern and southern grids. The $1.4 billion investment is expected to create 1,100 jobs and generate 3.4 billion kWh of renewable power annually.UAE's Masdar and W Solar hold 80% of the venture, with Kazakh partners Qazaq Green Power and the national investment fund owning 18 and 2%. (ICE ALMATY)

Fonte notizia: INTERFAX