According to the Development Bank of Kazakhstan (DBK), a new wind power plant with a capacity of 150 megawatts is about to be launched in the town of Khromtau in the Aktobe region. The total cost of the energy project is estimated at $178 million.
The plant is expected to begin producing commercial energy in December, while full construction is scheduled for completion by the end of 2025.
The DBK finances the project in collaboration with Kazakhstan Electrolysis Plant JSC, a subsidiary of the Eurasian Resources Group (ERG). Under the project, the bank has provided foreign-currency financing for construction, installation services, equipment procurement and commissioning operations.
During the construction phase, over 300 locals have been employed temporarily, and 25 permanent jobs will be created once the stations are fully operational. The energy produced by the wind plant will primarily power ERG enterprises engaged in ferroalloy production.
Another project supported by the DBK in Khromtau is the processing of sludge discharge by ERG Green. ERG is one of the largest mining companies in Kazakhstan, with ownership shared among the country’s Ministry of Finance (40%), Patokh Chodiev (18.6%), Alexander Mashkevitch (20.7%) and the Ibragimov family (20.7% stake).
