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19 October 2018

Hevel Group Builds 70 MW of PV Plants in Kazakhstan

Kazakhstan Electricity and Power Market Operator (JSC "KOREM") summed up the results of the final auction for the construction of renewable energy power plants. According to the results, Hevel Group was awarded 15-year PPA for the sale of power from 70 MW solar plant in southern Kazakhstan. Commissioning is planned for 2019-2020.

"This tender was a high competitive one and our victory means that we have entered an international market not only as PV modules supplier, but also as an power company competing with major international players, – said Igor Shakhray, CEO of Hevel Group. – CAPEX of solar power plants in Russia after the last bidding round is already at a competitive level and we will continue to decline it by investing in R&D, developing new advanced technologies and launching new products."

In the Republic of Kazakhstan auctions for the construction of renewable energy facilities are held on a regular basis since 2018. In addition, the country decided to increase the share of RES in the energy balance up to 50 percent by 2050.