Samsung’s subsidiary wants to produce renewable energy in Kazakhstan

Business news correspondent
Kazakhstan and a company from South Korea agreed to cooperate in the sphere of energy projects / Collage by, photo editor: Aruzhan Makhsotova

Samsung C&T Corporation from South Korea wants to build renewable energy sources in Kazakhstan, the press service of Kazakh Invest reported after Gabidulla Ospankulov, chair of the Investment Committee of the Ministry of Foreign Affairs, met with Seung-Chan Jung, managing director of Samsung C&T Corporation in Central and Western Europe.

«Representatives of Samsung C&T corporation have confirmed they are eager to implement a set of projects in the sphere of renewable energy and its storage with the help of solar energy and batteries specially designed for that purpose,» the press service said.

South Korean investors have also presented projects the company realized in Turkey and Romania and confirmed that they are interested in the construction and upgrading of the energy capacity of Kazakhstan.

«There are more than 700 companies with capital from South Korea successfully operating in Kazakhstan. South Korea is one of the top five big foreign investors in Kazakhstan. This is why the further development of investment relations between our nations is one of our top priorities. We are ready to provide Samsung C&T Corporation with comprehensive support in its investment and contract activities and new projects,» Ospankulov said.

During the meeting, the two sides agreed to cooperate in the implementation of future energy projects.

Samsung C&T Corporation is a construction and engineering company established in 1938 in Korea. At the time, it was the first company within the Samsung Corporation. It has business interests in various sectors, including construction, machine building, tourism and trade. 

Currently, 147 facilities with a total capacity of 2.9 gigawatts produce renewable energy in Kazakhstan. In February 2024, some media outlets reported that with the construction of renewable energy sources and the reconstruction of already existing sources, the total capacity of renewable energy sources would increase by 26.5 gigawatts by 2035.

For instance, new wind power stations with a capacity of 9 gigawatts will be built by 2035. Five different companies – Masdar, Total Energies, AcwaPowerCompany, Unigreen Energy and CPIH – are expected to each build a one-gigawatt renewable energy source. Furthermore, an additional eight renewable energy sources with lower capacities (from 200 to 1,100 megawatts) are planned to be launched in several regions of Kazakhstan.

Between 2027 and 2035, big hydropower stations (1.8 gigawatts) and several small hydropower stations (300 megawatts) will be constructed within the country. On top of that, Kazakhstani authorities want to develop biogas power stations with a capacity of 2.2 gigawatts and solar power stations for 500 megawatts.

Read also