The Kazakh government has signed an investment agreement with Hyrasia One, a subsidiary of project developer Svevind, backing a 20GW green hydrogen project.

The investment agreement covers land to be made available, access to infrastructure and unhindered movement of goods and capital, giving the project greater certainty for its investors, according to the developer.

Hyrasia plans to build 40GW of wind and solar capacity on the steppes of southwestern Kazakhstan, supplying electricity to 20GW of electrolysers in an industrial park on the coast of the Caspian Sea.

“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,” says Wolfgang Kropp, managing director of Hyrasia and CEO of Svevind.

“The investment agreement signed today takes the project into the next, decisive phase,” he adds.

Hyrasia aims to take FID on the $40-50bn project in 2026, with first production scheduled to start in 2030. A concept design study for the project has already been completed by consulting firms ILF Consulting Engineers and Roland Berger Management Consultants.

The project aims to produce up to 2mn t/yr of green hydrogen, with potential to export to demand centres in Europe and Asia.

The EU is expected to sign a strategic partnership with Kazakhstan for sustainable raw materials, batteries and green hydrogen before the end of November 2022.

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Author: Polly Martin