Saudi Arabia to invest USD 10bln in green energy of Kazakhstan

Saudi Arabia plans to invest 10 billion US dollars in the development of green energy projects in Kazakhstan, Kazinform News Agency reports.

Kazakhstan-Saudi Arabia intergovernmental commission convened in Riyadh to debate the development of joint investment projects.

Saudi Arabia’s ACWA Power announced the first agreement on the construction of the wind power plant in Kazakhstan. It plans to develop projects not only in the wind power sector, but also in hydrogen energetics and invest some 10 billion US dollars.

Besides, ACWA Power is expanding its presence in Central Asian countries, including Uzbekistan and Azerbaijan.