ERG, China's Huadian intend to build $160-mln wind farm in Kazakhstan near Ekibastuz

ALMATY. Nov 29 (Interfax) - Kazakhstan's Eurasian Resources Group (ERG), China's Huadian Corporation, and Kazakhstan's Argestus have signed an agreement on potentially collaborating to construct a wind farm with installed capacity of 200 MW in the Ekibastuz District, Pavlodar Region, in northeast Kazakhstan.

Investments in the project should exceed 80 billion tenge [approximately $156 million at the current exchange rate], and it is planned to be implemented by the end of 2026, ERG said.

"The project to construct the wind power plant is intended to meet the needs of ERG enterprises with energy from renewable sources. Commissioning the new wind power plant should reduce the carbon footprint of the group's products, primarily chrome and aluminum," according to the press release.

The company recalled that the group is currently building the first wind power plant with capacity of 150 MW in the Aktobe Region, whose energy will be supplied to the Donskoi Mining and Processing Plant (GOK) of JSC TNK Kazchrome, part of ERG. Implementing the project will reduce carbon dioxide emissions into the atmosphere by 520,000 tonnes per year.

The official exchange rate as on November 29, 2024, is 513 tenge/$1.