(Alliance News) - Eni Spa and Kazakhstan's state-owned KazMunayGas - KMG announced Tuesday the start of construction of a 250 MW renewable sources and gas hybrid power plant in Zhanaozen, in Kazakhstan's Mangystau region.

This milestone follows an agreement signed between the two companies to start the first hybrid power plant in Kazakhstan that integrates solar, wind and gas power to produce and supply stable, low-carbon electricity to KMG's subsidiaries in the region.

The project "is in line with Eni's decarbonization strategy and demonstrates a shared commitment to harnessing innovative technologies for a low-carbon future in the Mangystau region," the company's statement reads.

The project, the note continues, involves the hybrid combination of state-of-the-art renewable power plants, developed in collaboration with subsidiary Plenitude, and a gas-fired power plant to balance and stabilize power generation, collectively leveraging Eni's international industrial expertise.

Eni's stock trades in the red by 1.5 percent at EUR14.03 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.