Kazakhstan and South Korea are discussing a major green energy project worth $2b in East Kazakhstan. It is expected to produce as much as 55,000 tonnes of green hydrogen per year.
It is well to be noted that the MOU was signed between the Ministry of Energy of Kazakhstan, the region, and South Korean company YPP Corporation and the administration of East Kazakhstan during the state visit of President Kassym-Jomart Tokayev to South Korea, Qazinform News Agency has reported.
The agreement is aimed at increasing cooperation in the areas of hydrogen and renewable energy, which includes research, analytical work, exchange of know-how and joint development of projects that look promising.
Apparently, one of the projects which is under evaluation is a Green Energy Complex with renewable energy facilities of almost 1 gigawatt capacity.
This major green energy project worth $2b could generate almost 55,000 tonnes of green hydrogen or roughly 310,000 tonnes of green ammonia annually, subject to the final configuration of the project.
The initial cost of the project is projected at roughly $2 billion, pending the results of a feasibility assessment, Kazakhstan’s Ministry of Energy stated.