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South Korean Ypp Plans To Invest Up To $3.1B In Green Hydrogen Production In Kazakhstan

oil-gas

15 July 2025

Gulf Oil and Gas

oil-gas

Jul 15, 2025

Gulf Oil and Gas

Deputy Chairman of the Management Board of JSC “NC “KAZAKH INVEST,” held a meeting with John M. Bek, Chairman of the Board of the South Korean engineering company YPP Corporation. During the meeting, the parties signed a framework agreement on cooperation for the implementation of a green hydrogen production project in Kazakhstan.

The parties confirmed their intent to implement a major investment project — Green Energy Complex — in the Republic of Kazakhstan, aimed at creating a full-cycle production of green hydrogen and ammonia using renewable energy sources (RES). The total investment may reach up to $3.1 billion, depending on the project model and location conditions.

The project provides for the construction of wind and solar power plants with a total capacity of up to 2 GW, as well as the installation of electrolysis and ammonia production units. Production capacities are expected to reach up to 75,000 tons of green hydrogen, some of which are then converted into 310,000 tons of green ammonia annually. Part of the output will be used domestically, with the majority intended for export.

During the meeting, Azamat Kozhanov noted that the project aligns with Kazakhstan’s strategic priorities and ambitious plans for developing the hydrogen energy sector.

“We see a strong and sustained interest from international companies in implementing green energy and hydrogen projects. 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,” he said.

The project also involves the development of local infrastructure, including energy storage systems, water supply, logistics, and potential applications of hydrogen in energy — particularly through modernization of CHP plants in the Almaty region.

In turn, YPP founder John M. Bek expressed gratitude for the support from the Government of Kazakhstan and stated:

“Kazakhstan has unique natural conditions and an investment climate favorable for the development of hydrogen energy. We view the Republic of Kazakhstan as a strategic partner and intend to implement a project that combines Korea’s best technologies with global approaches to sustainable production.”

The agreement paves the way for a deeper elaboration of the investment model, conclusion of an investment agreement, and formation of partnerships with relevant organizations, including potential offtakers such as Samsung C&T.

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