Norway's Scatec, Elkem discuss solar projects in Kazakhstan

Oct 22, 2014 - Kazakh state-owned company Kazatomprom has discussed a possible partnership with Norwegian group Scatec AS to build both solar power parks and solar cell factories in Kazakhstan, the country’s foreign ministry said.

Talks were held during a visit to Norway, as reported by Trend News Agency on Wednesday. The delegation also included representatives of Scatec's 36.8%-owned solar unit, Scatec Solar ASA (OSL:SSO) and Norwegian solar grade silicon producer Elkem SA. They have discussed the possibility of conducting major investment projects in Kazakhstan. No details were revealed on the possible solar projects.

Scatec AS makes renewable energy and environmentally friendly advanced materials at home, while Scatec Solar develops solar power generation projects. The latter completed its initial public offering (IPO) in Oslo at the very start of October, raising NOK 500 million (USD 75.7m/EUR 59.6m) gross.

Last month, Kazatomprom’s solar unit Astana Solar LLP said that the central Asian country plans to install 28 solar photovoltaic (PV) plants totalling 713.5 MW by 2020. The Kazakh plan for the period 2014-2020 calls for the addition of 3,054.5 MW of renewable energy capacity, which would account for some 3% of the country’s total power demand.

Astana Solar makes PV modules. Kazatomprom is active in the solar power industry through wafer manufacturer Kazakhstan Solar Silicon LLP and silicon producer KazSilicon LLP.

(NOK 1.0 = USD 0.151/EUR 0.119)

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