Hyrasia One has secured an investment agreement which defines project parameters, land availability, infrastructure, movement of goods and capital, and other economic and legal matters, in a bid to reassure potential investments. Hydrogen Industry Leaders looks at the project.
The agreement was signed in the presence of Kassym-Jomart Takayev, President of the Republic of Kazakhstan, Charles Michel, President of the European Council, representatives of Hyrasia One and the Kazakh government.
Reaching its full capacity by 2032, the power plant will have a capacity of 2 million tonnes of green hydrogen per year, equivalent to one-fifth of the EU’s stated goal of importing green hydrogen by 2030.
It involves constructing and operating a desalination plant with a capacity of 255,000 cu m per day, a 40 GW renewable energy station (wind, solar), and a 20GW water electrolysis production, mainly for export or domestic consumption.
Hyrasia One has said that the implementation will create about 3,500 jobs during the construction period, and about 1,800 new permanent jobs during the phased commissioning of facilities.
Wolfgang Krupp, Managing Director of Hyrasia One, said: “Kazakhstan is an ideal location for clean energy and green hydrogen production,”