On November 29, the heads of Samruk-Kazyna and China’s SANY Renewable Energy laid the foundation for a plant to produce wind turbine components.
The plant will manufacture gondolas, hubs, towers, and other essential components for wind farms. The total cost of the facility is estimated at USD 114 million, and it is scheduled to launch by the end of 2025.
“Firstly, over 300 new jobs will be created. Secondly, the project involves attracting USD 114 million in foreign direct investment. It will be implemented without additional borrowed funds from Kazakhstan’s development institutions. Thirdly, the localization level will increase to at least 30%. To achieve this, SANY RE plans to open a research and development (R&D) center,” said Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC.
The project is expected to supply wind power plants in Kazakhstan with locally produced wind components.
Kazakhstan aims to achieve carbon neutrality by 2060. As part of this effort, the country plans to increase the share of renewable energy sources in its total electricity generation.
To meet the growing demand for electricity, Samruk-Kazyna, together with its partners, plans to introduce approximately 6 GW of renewable energy sources by 2030.
SANY Renewable Energy, a subsidiary of SANY Group, is one of the largest wind turbine manufacturers in the world. The company’s shares are traded on the Shanghai Stock Exchange, with a market capitalization of USD 5.3 billion as of November 2024. The SANY RE plant in Beijing was recognized as a “benchmark enterprise in the field of intellectual manufacturing” by China’s Ministry of Industry and Information Technology in 2021.
SANY Group is a leading Chinese enterprise in high-tech equipment production, with more than 20 research and development centers. It is the fifth-largest manufacturer of specialized equipment in the world.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Blockchain News Site journalist was involved in the writing and production of this article.
