More details on Acwa Power’s 1 GW wind farm in Kazakhstan: Saudi renewables giant Acwa Power signed a roadmap agreement with Kazakhstan’s Energy Ministry and the country’s sovereign wealth fund, Samruk-Kazyna, for the 1 GW wind energy and battery storage facility in the country, according to a statement. The roadmap paves the way for the construction of the project and comes months after Acwa Power and Kazakhstan signed the head of terms agreement for the project in March.

New details: The 1 GW wind project will cost USD 1.5 bn, making it the biggest Saudi investment in the Central Asian country’s power sector to date, the statement notes. The wind farm is slated for completion in 2027.

Central Asia is luring in the Gulf: The Central Asian region is currently the Saudi company’s second-largest market in terms of investments, the statement notes, as it looks to capitalize on emissions reduction and energy transition through wind turbines and battery storage projects. UAE renewables giant Masdar also signed a roadmap agreement with Kazakhstan earlier this week to develop a 1 GW wind farm in the southern part of the country with a battery energy storage systems (BESS) facility.

ALSO- Is more cooperation between KSA and Kazakhstan in the pipeline? Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman signed an MoU with Kazakhstan counterpart Almasadam Satkaliyev on energy cooperation between the two countries, according to a statement released earlier this week. The MoU aims to promote energy cooperation in oil, gas, electricity, petrochemicals, renewable energy, clean hydrogen, and energy storage and efficiency. The MoU also aims to bolster cooperation in the carbon circular economy and related technologies that aim to curb the impact of climate change.