South Korea’s engineering firm YPP Corporation and Kazakhstan’s national investment promotion agency JSC “NC KAZAKH INVEST” have signed a framework agreement on July 15, 2025, to develop the Green Energy Complex project in Kazakhstan, according to the company's release.
Under the agreement, YPP may invest up to US $3.1 billion—subject to the final project model and location—to build a full‑cycle green hydrogen and ammonia production facility powered by renewable energy sources.
The project plan includes constructing up to 2 GW of wind and solar capacity, installing electrolysis and ammonia synthesis units, and developing associated infrastructure such as energy storage, water supply and logistics.
Annual production is expected to reach 75,000 tons of green hydrogen, of which part will be used domestically and the rest converted into 310,000 tons of green ammonia for export.
Azamat Kozhanov, Deputy Chairman of the Management Board of JSC NC KAZAKH INVEST, stated that the initiative aligns with Kazakhstan’s strategic priorities. He noted, “Kazakhstan has tremendous potential — up to 1,820 billion kWh per year for wind and 2.5 billion kWh for solar. Dozens of initiatives are already underway, and we believe that partnerships like the one with YPP will turn this potential into tangible production, exports, and new jobs.”
The framework agreement sets the stage for finalising the investment model, signing an investment agreement, and establishing partnerships with offtake candidates, including Samsung C&T.
Framework agreements between foreign engineering companies and Kazakh Invest are a well-established first step toward large‑scale energy projects in Kazakhstan. This follows the country’s 2024 National Hydrogen Strategy, which sets a target of installing at least 10 GW of electrolyser and renewable energy capacity by 2040. Previous initiatives include German firm Svevind’s $50 billion Hyrasia One green hydrogen project in the Mangystau region, which entered pre‑FEED in 2023.
JSC “NC KAZAKH INVEST” is a state‑owned joint‑stock company and Kazakhstan’s national investment promotion agency. It operates under the Ministry of Industry and Infrastructural Development and leads efforts to attract and facilitate foreign direct investment, particularly in strategic sectors like energy and infrastructure.
YPP Corporation (Your Permanent Partner) is a South Korean engineering and energy firm with over 40 years of experience in large‑scale projects, including renewables, battery energy storage systems (BESS), nuclear energy and green hydrogen.