Kazakhstan, China's SANY Group begin construction of $114 mln wind power components plant

ASTANA. Nov 29 (Interfax) - Kazakhstan's Samruk-Kazyna state fund and the Chinese company SANY Renewable Energy (SANY RE) have laid the foundation for a wind turbine component manufacturing plant in the Zhambyl region, the fund's press service said.

The $114 million plant is set to begin operations at the end of 2025 and will produce nacelles, hubs, towers and other key components for wind power plants.

"This [involves] attracting $114 million in direct foreign investment. The project will be implemented without additional loans from Kazakhstan's development institutions. The level of localization will be at least 30%. To support this, SANY RE plans to establish a new R&D center," Samruk-Kazyna Board Chairman Nurlan Zhakupov was quoted as saying.

Overall, Samruk-Kazyna plans to commission around 6 GW of renewable energy sources by 2030 in collaboration with partners to meet Kazakhstan's growing energy demand.

SANY Renewable Energy is part of SANY Group, one of China's largest engineering companies.

JSC National Welfare Fund Samruk-Kazyna was established in 2008. It manages major strategic companies in Kazakhstan, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas, Kazpost, Kazakhstan Temir Zholy, KEGOC and others.