Germany’s Svevind to Develop 20 GW Green Hydrogen Project in Kazakhstan

Just as the European Union toils for renewable energy expansion and possible import of clean energy, German renewable energy player Svevind Energy Group looks to invest a massive $50 billion for the development of a 20 GW green hydrogen project in Kazakhstan, for which an agreement has been signed between Svevind and the Kazakh Government.

According to reports, the planned hydrogen facility of Svevind will be known as ‘Hyrasia One’ that will have an electrolyser park that will produce renewable hydrogen by employing energy from both wind and solar energy sources. It will require about 40 GW of renewable energy to function. The Svevind RE project is expected to produce 2 million tonnes of green hydrogen every year when put to full capacity.

As per reports, the production by Svevind will start early 2030 and the peak production will take place in 2032.  The two parties have signed a long-term framework agreement that will help in getting the company land access, taxes, permit processes, and removal from restrictions on the movement of trade and capital.

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Wolfgang Kropp, CEO, Svevind, said, “This investment agreement signed today takes the project into the next, decisive phase. Kazakhstan is the ideal hosting country for the project as it has excellent year-round wind conditions and solar radiation. The country has lower costs of green hydrogen production, which makes it very competitive in the global market.”

The Building European Connect

Recently, European Council President Charles Michael and Kazakhstan President Kassym-Jomart Tokayev have agreed for an MoU between the two parties for developing sustainable raw materials, storage batteries and green hydrogen value chains. EC held that the soon-to-be signed agreement allows parties to cooperate on critical materials including rare earths.

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Among other things, the European Union may relocate some manufacturing companies to Kazakhstan and develop a new trade route that would connect Europe with Central Asia.

The joint statement held, “The presidents stressed the importance of tapping into existing potential in the areas of green economy, energy efficiency, digitalisation, and connectivity between Kazakhstan and the EU.” Svevind maintains a portfolio of renewables projects in Sweden, Germany and Kazakhstan.