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Kazakhstan cancels a 5 GW energy deal worth US$6bn with ADQ and Taqa

14 Jan 2022

The Kazakh government has recalled from parliament a bill on the ratification of a planned US$6bn renewable energy agreement with two companies from Abu Dhabi (United Arab Emirates), namely energy company Taqa and holding ADQ. In December 2021, ADQ and Taqa had signed a long-term strategic agreement with Samruk-Kazyna, the sovereign wealth fund of the Republic of Kazakhstan. The two companies were expected to invest US$6bn in the country to develop a 2 GW solar photovoltaic (PV) power plant, a 2 GW wind power plant and a 1 GW combined-cycle (CCGT) gas-fired power plant.

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