Hungarian investors will build a solar power plant in Kazakhstan’s Turkestan region. The corresponding trilateral memorandum was signed on March 2 between Kazakh Invest national investment promotion company, the Akimat (administration) of the Turkestan region, and the investor — the Globalia Kft company, Kazakh Invest reported.

According to the document, the foreign investor plans to build a solar park with a capacity of 50 MW. The project provides for installation of more than 160 thousand monocrystalline solar modules.

“It is not a secret that there is a shortage of electricity in the Turkestan region, which is fed by the northern regions of the country. In this regard, we need to develop alternative energy sources. There is sunny weather for three thousand hours per year [in the Turkestan region] and therefore, our region is, of course, the most favorable for the implementation of such projects,” said the regional director of Kazakh Invest in the Turkestan region Ersultan Zhanabaev.

According to preliminary agreements, the construction of the solar power plant will begin at the beginning of 2022. The implementation of the project will create about 150 jobs.

“We have made sure that Kazakhstan is a country favorable for investment. When we invest in projects, we are confident that our investments are protected and that they will pay off. We especially appreciate the comprehensive support of Kazakh Invest. It is very pleasant that there is such a company in Kazakhstan that is available and open for investors 24/7,” said Gabor Sagi, Chairman of the Board of Globalia Kft.