The green energy sector is the most attractive sector for German investments.
Kazakhstan aims to increase the share of renewable energy sources in the energy balance from the current four per cent to 15 per cent by 2030, Trend reported, citing Kazakh Invest.
In this context, the German company Svevind has launched the $50 billion Hyrasia One project in the Mangistau region of Kazakhstan. The project includes the construction of a desalination plant with a capacity of 255 thousand cubic metres of hydrogen per day, a renewable energy plant with a capacity of 40 GW and a water electrolysis plant with a capacity of 20 GW.
Green hydrogen production will start in 2030 and the project will reach full capacity by 2032, providing two million tonnes of environmentally friendly hydrogen per year.
We would like to add that Germany has been investing in Kazakhstan’s economy since 1992. More than $6.6 billion has been invested until 2023, and in 2023 the investment flow increased by a record 64 per cent compared to the previous year.
The Hyrasia One project, being developed by the European SVEVIND Energy Group, will be one of the world’s largest green hydrogen projects. In addition to hydrogen, the project will also include wind and solar modules and will produce up to two million tonnes of green hydrogen or 11 million tonnes of green ammonia per year. The products will be transported to Asia, the Gulf States and Europe.
