On November 29, the heads of Samruk-Kazyna and China’s SANY Renewable Vitality laid the muse for a plant to supply wind turbine elements.

The plant will manufacture gondolas, hubs, towers, and different important elements for wind farms. The entire price of the ability is estimated at USD 114 million, and it’s scheduled to launch by the top 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,” stated Nurlan Zhakupov, Chairman of the Administration Board of Samruk-Kazyna JSC.

The venture is anticipated to provide wind energy crops in Kazakhstan with domestically produced wind elements.

Kazakhstan goals to realize carbon neutrality by 2060. As a part of this effort, the nation plans to extend the share of renewable power sources in its complete electrical energy era.

To fulfill the rising demand for electrical energy, Samruk-Kazyna, along with its companions, plans to introduce roughly 6 GW of renewable power sources by 2030. 

SANY Renewable Vitality, a subsidiary of SANY Group, is likely one of the largest wind turbine producers on the earth. The corporate’s shares are traded on the Shanghai Inventory Trade, with a market capitalization of USD 5.3 billion as of November 2024. The SANY RE plant in Beijing was acknowledged as a “benchmark enterprise in the field of intellectual manufacturing” by China’s Ministry of Business and Info Expertise in 2021.

SANY Group is a number one Chinese language enterprise in high-tech tools manufacturing, with greater than 20 research and growth facilities. It’s the fifth-largest producer of specialised tools on the earth.