SVEVIND and Kazakh Invest sign MoU relating green hydrogen facilities amounting 30GW

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 realize mega-scale facilities for producing green hydrogen by utilizing the Republic of Kazakhstan’s vast wind and solar energy resources.

SVEVIND intends to build wind and solar farms with a combined capacity of 45 gigawatts (GW) in Western and Central Kazakhstan, primarily in steppe areas. The green electricity will power 30 GW of electrolyzers, which will generate around three million tonnes of green hydrogen annually. Green hydrogen can be shipped straight to Eurasian markets or used locally to manufacture high-value green products such as ammonia, steel, or aluminum.

SVEVIND presented its plans to the Kazakh Government on May 18 and 19 at government meetings in Nur-Sultan. The development, engineering, procurement, and funding phases are estimated to take between three and five years in total. The phases of construction and commissioning are expected to last around 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.”