Germany headquartered renewable energy developer Svevind Energy Group through its subsidiary Hyrasia One plans to build one of the world's largest industrial plants in Kazakhstan with 20 GW electrolyzer capacity, to be powered by around 40 GW wind and solar PV plants.
Under an investment agreement signed with the Kazakh government, Hyrasia One has proposed to install the industrial park on Caspian Sea coast in the Mangystau region to produce up to 2 million tons of green hydrogen annually, equivalent to about 1/5th of the expected import demand of European Union (EU) for green hydrogen in 2030. The project is planned to be commissioned in 2030 and achieve full capacity by around 2032.
The 40 GW wind and solar power capacity, which is planned to generate about 120 TWh annually to power this industrial plant, will be deployed in the vast steppes of Southwest Kazakhstan.
"Hyrasia One could thus become a supporting pillar for the hydrogen markets currently emerging in Europe, as well as in Kazakhstan itself and in Asian countries," stated the company.
All of these plans are expected to cost it between $40 billion to $50 billion; however, the final investment decision will be made in 2026.
These plans differ slightly from the June 2021 announcement of Svevind and Kazakh Invest National Company to collaborate on 45 GW wind and solar farms for 30 GW electrolyzer capacity (see 45 GW Wind & Solar Farms For Green Hydrogen In Kazakhstan).
"Kazakhstan is an ideal location for clean energy and green hydrogen production. The vast steppes have excellent year-round wind conditions and solar irradiance is far more intense than in Central Europe, for example. The investment agreement signed today takes the project into the next, decisive phase," said Managing Director of Hyrasia One, and Founder and CEO of Svevind Wolfgang Kropp.
Through the investment agreement, the company said it has reached some decisive project parameters regarding land, access to infrastructure, unhindered movement of goods and capital among others for this 'lighthouse' project that it has been developing for 3 years now.
It also provides a certainty for investors leaving Hyrasia One to carry out concrete negotiations with co-investors, customers and plant suppliers.
Recently, European Commission (EC) President Ursula von der Leyen and Kazakh President Kassym-Jomart Tokayev agreed to sign a strategic partnership agreement for sustainable raw materials, batteries and green hydrogen in November 2022, as per the company.
.png?w=50&fm=png){kind=logo}