November 2, 2022
November 2, 2022
The European Union is one step closer to securing the annual supply of two million tonnes of green hydrogen produced using electricity from wind farms and solar power plants in the steppes of Kazakhstan. The volume is equivalent to one fifth of European imports planned for 2030.
Hyrasia One, a subsidiary of Swedish-German company Svevind Energy Group, reached an investment agreement in Astana with the Kazakh government for the massive project.
The deal was signed in the presence of Kazakhstan’s President Kassym-Jomart Tokayev and President of the European Council Charles Michel.
By the end of November, European Commission President Ursula von der Leyen and President Tokayev are scheduled to establish a strategic partnership for sustainable raw materials, batteries and green hydrogen.
The Hyrasia One project envisages wind and photovoltaic facilities with a total capacity of 40 GW
The Hyrasia One project envisages wind and photovoltaic facilities with a combined capacity of 40 gigawatts (GW) to be installed in the vast steppes of southwest Kazakhstan, the firm said.
The estimated annual output of 120 terawatt-hours is planned to be used to supply an industrial park of electrolyzers on the Caspian Sea coast, with an overall capacity of 20 GW.
Hydrogen production in the Mangystau region is set to start as early as 2030 and reach full capacity by around 2032. The final investment decision for the project, worth USD 40 to USD 50 billion, will be made in 2026.
The project is been developed for three years now
According to the firm, the investment agreement defines decisive project parameters such as the land to be made available, access to infrastructure, the unhindered movement of goods and capital, alongside other economic and legal conditions.
The agreement gives the project, already in development for three years, certainty for investors, and now the firm can start negotiations with co-investors, customers and plant suppliers.
Kazakhstan is an ideal location for clean energy and green hydrogen
The first phase, the concept design study, was completed in the summer. It was prepared in cooperation with ILF Consulting Engineers and Roland Berger Management Consultants.
Next ten years are crucial for the success of the energy transition
“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 Wolfgang Kropp, Managing Director of Hyrasis One and founder and CEO of Svevind Energy Group. He added that the next ten years are crucial for the success of the energy transition worldwide.
Of note, Europe, together with Japan and South Korea, is seen as a major importer of hydrogen in the future.
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