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Eurasian Resources Group, a leading diversified natural resources producer, announced it is investing approximately $230 million in building a major wind power plant in Kazakhstan, its home country.
"This is one of our strategic inputs in support of the country's ambitious goals of achieving carbon neutrality by 2060 and increasing the share of renewable energy," said Benedikt Sobotka, CEO of ERG.
The new wind power plant is planned to cover more than 150 hectares near the town of Khromtau in the Aktobe region and will be built using the latest engineering technology. Scheduled to be put into operation in 2024, it will have an installed capacity of 155 megawatts, making it the most powerful plant in the region, according to the company.
The move is expected to reduce carbon dioxide emissions by around 520,000 metric tons annually and "make a significant contribution to energy conservation", Sobotka said.
Power generated by the wind turbine park will be supplied to the group's Kazchrome Donskoy GOK plant, the largest industrial enterprise in Aktobe. It is to meet the plant's growing energy needs as it increases its production capacity in the coming years, a company statement said.
In addition, the wind farm will supply energy to neighboring industrial facilities and the Aktobe region, thus reducing Kazakhstan's use of coal, according to ERG.
"We hope that the construction of this wind farm serves as an example for other large enterprises in Kazakhstan, and takes the country closer to the ambitious goal of becoming a carbon-neutral state," said Alexander Machkevitch, chairman of the company's board of directors.
This will be ERG's first proprietary wind farm project and forms part of the group's ambitious ESG Strategy and decarbonization program, according to the company. ESG stands for "environmental, social and governance" criteria in judging a business operation's contribution to sustainable development.
ERG has long considered ESG a priority in the group's operations and rolled out such a strategy in 2021.
"We have continued to improve and expand our ESG disclosures, specifically with regard to our responsible sourcing practices and climate action," Sobotka said.
The company said it has made substantial progress in its sustainability initiative. Goals in its Environmental and Energy Strategy 2030 include reducing air emissions by 56 percent, to water emissions by 30 percent and water consumption by 33 percent. Xinhua
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