Russian solar developer Unigreen Energy, a subsidiary of Ream Management, has acquired a 70% stake in a 48MW wind project in Kazakhstan.
Unigreen has signed a deal with Unex Stroy to acquire a 70% share in the charter capital of the special purpose vehicle Kaz Wind Energy, which owns the wind project, which is located in the Kostanay region.
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The project is to be built on a build and operate basis under a 15-year power purchase agreement (PPA) and is set to come online by the end of 2022.
Unigreen Energy continues to expand its renewable energy portfolio by developing 55MW of solar generation capacity in Kazakhstan and 545MW in Russia.
The developer aims to have a 3GW portfolio by 2024.