May 27, 2024

Masdar to develop 1GW wind power project in Kazakh

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The signatories were Masdar, the Ministry of Energy of the Republic of Kazakhstan, the Kazakhstan Investment Development Fund (KIDF) Management Company Ltd., and Samruk-Kazyna.
The signatories were Masdar, the Ministry of Energy of the Republic of Kazakhstan, the Kazakhstan Investment Development Fund (KIDF) Management Company Ltd., and Samruk-Kazyna.

Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading clean energy companies, signed a roadmap for developing up to 1 gigawatt (GW) wind power plant in Kazakhstan to support the country’s goal of achieving half its energy mix from renewables by 2050.

The Central Asian country is a key strategic market for Masdar, the UAE’s flagship renewable energy company, which has been steadily investing in the region in recent years. The roadmap for developing the up to 1 GW wind project, with a battery energy storage system (BEES), was signed by four partners on the sidelines of the Astana International Forum. HE Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure, witnessed the signing. The signatories were: Masdar, the Ministry of Energy of the Republic of Kazakhstan, the Kazakhstan Investment Development Fund (KIDF) Management Company Ltd., and Samruk-Kazyna, a joint stock company sovereign wealth fund.

Masdar logo

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate, said, “The UAE and Masdar are proud to be supporting Kazakhstan’s renewable energy goals. This wind project, which will generate up to 1 GW of clean electricity to power homes and cut emissions, shows sustainable development in action. To meet the Paris Agreement goals to keep 1.5 within reach, humanity needs to take many bold steps, including tripling worldwide renewable energy capacity by the end of this decade.  As proud hosts of COP28, the UAE is deeply committed to investing in and partnering with countries to boost clean energy around the world.”

Kazakhstan aims to become carbon neutral by 2060 and is targeting renewable electricity generation of 50 percent by 2050.  The up to 1 GW wind farm, with BESS, is Masdar’s first project in the country.  In addition to the roadmap, Samruk-Kazyna and Masdar signed a collaboration agreement for the project. The roadmap signing builds upon an earlier agreement secured between Masdar and its Kazakh partners during Abu Dhabi Sustainability Week in January 2023. 

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Masdar is very excited about its first project in Kazakhstan. We aim to deliver a world-class wind plant and battery energy storage system that will support Kazakhstan’s energy transition and advancement of its net zero ambitions. We welcome the signing of the project roadmap which further strengthens our relationship with Kazakhstan and demonstrates our commitment to helping the Kazakh government achieve its clean energy objectives.” 

Marat Tulebaev, Chief Executive Officer of the Kazakhstan Investment Development Fund (KIDF) Management Company Ltd., said, “KIDF is a government risk mitigation mechanism designed to provide comfort to foreign investors and global players like Masdar by co-investing in projects. We are pleased to note the progress of the project for the construction of up to 1GW wind farm with the first phase to be developed in the Jambyl region. This is a significant step forward in developing the joint implementation of Masdar’s first wind project in our country. We look forward to strengthening our partnership in the future and believe that this project meets our country’s growing demand for electricity by helping to shift the energy supply model towards renewable energy sources.”

Masdar
Masdar

Nurlan Zhakupov, Chief Executive Officer of Samruk-Kazyna, said, “I am glad that the Fund has now become a part of the project. Today, we consolidated this by signing a Collaboration Agreement between the Fund and Masdar, which will be the starting point for further cooperation. We also signed the Calendar Action Plan (Roadmap) between the Fund, the Ministry of Energy, KIDF and Masdar, indicating the main activities, responsible parties and deadlines.”

Abundant in wind and sunshine, the Central Asian region is a strategic market for Masdar.  In April 2023, Masdar reached financial close on three solar power projects in Uzbekistan with a combined capacity of around 900 MW.  Once operational, the plants will generate enough electricity to power over one million homes and displace over one million tonnes of carbon dioxide per year, making it the region’s largest solar power program. 

In Azerbaijan, Masdar is developing the 230 MW Garadagh solar power plant and has signed agreements for onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a total combined capacity of 4 GW. 

Established in 2006, Masdar is the UAE’s clean energy powerhouse. It is active in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of more than 20 GW. Masdar is committed to achieving at least 100 GW of total renewable energy capacity by 2030.

Source

Also read:

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Octopus Energy Group collaborates with Masdar

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