50 billion reasons why Kazakhstan has turned away from Russia. Seems like a good reward
Kazakhstan Signs Deal to Make Hydrogen at a $50 Billion-Plant
- Output of Svevind’s plant seen equivalent to 20% of EU imports
- Europe could start receiving Kazakh green hydrogen by 2030
Kazakhstan plans to start producing green hydrogen via a $50 billion project by the end of the decade to help Europe to reduce reliance on fossil fuels.
Svevind Energy Group, the company behind Europe’s largest wind farm in Sweden, signed an agreement with Kazakhstan’s government to build a 20 gigawatt green hydrogen plant that is expected to be one of the world’s largest, the company said on Thursday. The electrolysers will be able to produce up to 2 million tons of green hydrogen per year from 2032, the equivalent to about one-fifth of the EU target for imported green hydrogen in 2030.
The initial financing for the investment will be provided by Dresden, Germany-based Svevind as project developer and talks are underway to secure additional financial partners for the long term investment.
The project will start producing hydrogen as early as 2030 and reach full capacity around 2032.
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