The Abu Dhabi Future Energy Company “Masdar”, a world leader in renewable energy, has announced the signing of an agreement with the Ministry of Energy, the Investment and Development Fund Management Company of the Republic of Kazakhstan, and “Samruk Kazania”, a shareholder in the Kazakh Sovereign Wealth Fund, to develop a road map for the development of a power plant. 1 GW wind power storage battery system in Kazakhstan.
The agreement was signed, in the presence of His Excellency Suhail bin Muhammad Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, on the sidelines of the activities of the Astana Energy Forum.
This project contributes to supporting Kazakhstan’s goal of generating 50 percent of its energy mix from renewable sources by 2050.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, President-designate of the Conference of the Parties COP28, Chairman of the Board of Directors of “Masdar”, said on this occasion: “In line with the leadership’s vision and directives to support and promote sustainable development, the development and deployment of renewable energy solutions to reduce emissions and stimulate climate action around In the world, we are pleased to sign this important agreement with our partners in the friendly Republic of Kazakhstan to set a road map for the development of a wind power plant with a production capacity of up to 1 gigawatt. The UAE and Masdar are proud to contribute to supporting the government’s endeavors in Kazakhstan to achieve its ambitious goals in the field of renewable energy.”
His Excellency stressed the importance of this vital project, which will contribute to providing clean energy, reducing emissions and accelerating the pace of sustainable development. Achieving the goal of the Paris Climate Agreement to prevent the planet’s temperature from exceeding 1.5 degrees C. As the UAE prepares to host the COP28 Climate Conference, we welcome the conclusion of such agreements that contribute to enhancing the prospects for cooperation between the two friendly countries as part of our tireless endeavors to ensure a sustainable and free future. emissions for all.
Kazakhstan has set a goal of achieving climate neutrality by 2060 and for renewable energy to make up 50 percent of its energy mix by 2050.
This wind plant is Masdar’s first project in Kazakhstan, which is located in the Central Asian region, which is a major and strategic market for Masdar, which has been working to enhance its investments in this region in recent years.
Masdar also entered into a project cooperation agreement with Samrook Casino. These agreements are the fruits of the cooperation agreement signed by Masdar with its partners in Kazakhstan during the Abu Dhabi Sustainability Week 2023.
For his part, Mohammed Jamil Al-Ramahi, CEO of Masdar, said: “Masdar is looking forward to developing a wind power plant and a battery system for storing energy according to the highest levels of efficiency and operational performance, which contributes to supporting the aspirations of the government in Kazakhstan related to the energy transition and achieving Climate neutrality This agreement comes within the framework of strengthening partnerships with the Republic of Kazakhstan, and reflects Masdar’s commitment to providing all forms of support to the Kazakh government in order to achieve its goals in the field of clean energy.
In his turn, Marat Tulipayev, CEO of the Investment and Development Fund of Kazakhstan, said: “The fund is a state company established to mitigate risks and provide all facilities to foreign investors and world-leading companies such as Masdar by promoting joint investments in projects. We are pleased to see the progress made on the power plant project Al-Rabah has a production capacity of 1 gigawatt, the first phase of which will be developed in the Gambil region, and this phase is an important step towards the completion of the joint venture, which is the first of its kind for Masdar in Kazakhstan, and we look forward to more of these strategic partnerships in the future.
Tulibayev stressed that this important project will contribute to meeting the growing demand for electricity in Kazakhstan by contributing to the efforts of transition towards reliance on renewable energy sources.
For his part, Nurlan Zakubov, CEO of Samruk Kaznia, stressed the importance of partnership with “Masdar” in the implementation of this pioneering project, expressing his hope that the signing of this agreement would be a prelude to more cooperation agreements.
He said, “Today we also signed an agreement to set the schedule and develop a road map for the development of a wind power plant with the Ministry of Energy, the Investment and Development Fund Management Company and Masdar, to define the main work that we will do with the responsible authorities within the framework of the project and the deadlines for delivery.”
Central Asia is a major strategic destination for Masdar, due to its abundance of solar and wind energy sources. Last April, Masdar announced the completion of the financial closing process to finance the development of three solar photovoltaic projects, with a total production capacity of 900 solar panels. megawatts in the Republic of Uzbekistan. When they start operating, these projects will provide electric power to more than one million homes and contribute to avoiding the release of more than one million tons of carbon emissions annually, making this the largest program to develop solar energy projects in the Central Asian region.
In Azerbaijan, Masdar is developing the Karadakh photovoltaic solar plant with a production capacity of 230 megawatts, and has also signed agreements to develop onshore wind and solar power plants and integrated offshore wind and green hydrogen projects with a total capacity of 4 gigawatts.
Founded in 2006, Masdar is a world-leading Emirati company in the field of clean energy, active in more than 40 countries, investing in a portfolio of renewable energy projects with a total production capacity of more than 20 gigawatts, and looking forward to producing at least 100 gigawatts of renewable energy. by 2030.
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