Crown Prince of Abu Dhabi and President of Kazakhstan witness Masdar agreement to develop renewable energy projects
The agreement will support the development of '24/7' project providing up to 500MW of baseload renewable energy and battery energy storage projects with up to 2GW capacity
UAE and Kazakhstan Energy Ministers also exchanged documents recognizing ratification of government agreement on development of Masdar's 1GW wind farm in Central Asian nation
Astana, Kazakhstan: His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and His Excellency Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, witnessed a collaboration agreement between Abu Dhabi Future Energy Company PJSC – Masdar and Samruk-Kazyna JSC, related to the development of renewable energy and battery energy storage system (BESS) projects in Kazakhstan.
His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Nurlan Zhakupov, Chief Executive Officer of Samruk-Kazyna, exchanged documents related to the collaboration agreement during the Kazakhstan-UAE Business Forum.
Under the agreement, Masdar, the UAE's clean energy leader, and Samruk-Kazyna, Kazakhstan's sovereign wealth fund, will explore the development of a '24/7' project that will provide up to 500 megawatts (MW) of baseload renewable energy, and BESS projects with up to 2 gigawatts (GW) capacity. Masdar is currently developing a 1GW wind farm with a 600-megawatt-hour (MWh) BESS in Kazakhstan, set to be one of the largest wind projects in the region.
HE Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, and HE Yerlan Akkenzhenov, Minister of Energy for Kazakhstan, also exchanged documents related to the ratification of the Intergovernmental Agreement (IGA) signed at COP28 in 2023 for the development of the 1GW wind project. This marks a significant milestone toward the project's implementation.
HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, said: "This agreement builds on the already strong energy partnership between our two countries and will support Kazakhstan's ambitious renewable energy objectives. By leveraging Masdar's expertise in renewables and battery storage technology, Kazakhstan will be able to address today's energy needs while creating new jobs, stimulating its economy and preparing for the growing demands of tomorrow. We look forward to working closely with Samruk-Kazyna and the Government of Kazakhstan to deliver sustainable, secure energy and drive socioeconomic progress.'
Nurlan Zhakupov, CEO of Samruk-Kazyna, said: "In line with President Tokayev's objective of reaching carbon neutrality by 2060, Samruk-Kazyna is strengthening its efforts in low-carbon development, including through partnerships with leading international companies such as Masdar. This agreement represents a step forward toward increasing the share of renewable energy in Kazakhstan's energy mix, using advanced technologies to support a more sustainable and resilient energy future."
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "Kazakhstan is a key strategic partner for Masdar and today's agreement further strengthens our presence in the country, building on the strong collaboration established through our existing 1GW wind and battery storage project in the Jambyl region. This agreement also strengthens our partnership with Samruk-Kazyna and we will continue to work closely together to support energy security, economic diversification and climate action."
Kazakhstan is targeting generating 15 percent of electricity from renewable energy sources by 2030 and 50 percent by 2050. Masdar signed an agreement at COP28 with W Solar, Qazaq Green Power QGP, a Samruk-Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the 1GW wind project. The power purchase agreement and the investment agreement for the project were signed at COP29 in Baku last year, with construction expected to begin in 2026.
Masdar announced a significant advance in battery storage technology this year, with the launch at Abu Dhabi Sustainability Week (ADSW) of the world's first gigascale 24/7 solar and battery storage project. Located in Abu Dhabi, the project will feature a 5.2GW (DC) solar photovoltaic (PV) plant, coupled with a 19 gigawatt-hour (GWh) BESS to deliver up to 1GW baseload power every day – the largest combined solar and BESS project in the world.
With abundant solar and wind resources, Central Asia is a key strategic region for Masdar. Beyond its footprint in Kazakhstan, the company has an active presence across the region, including Uzbekistan and Azerbaijan. Masdar is targeting a 100GW global portfolio capacity by 2030.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
26 minutes ago
- The National
Mohammed bin Rashid honours winners of fourth Mohammed Bin Rashid Al Maktoum Global Water Award
Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, honoured the winners of the fourth Mohammed Bin Rashid Al Maktoum Global Water Award. The ceremony, at Emirates Towers in Dubai, was attended by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai. Overseen by the UAE Water Aid Foundation (Suqia UAE), the award is organised under the umbrella of Mohammed Bin Rashid Al Maktoum Global Initiatives. In the fourth event, 12 winners from eight countries were recognised, with total prize of $1 million. The award features four main categories: Innovative Projects, Innovative Research and Development, Innovative Individual, and Innovative Crisis Solutions. On this occasion, Sheikh Mohammed said the UAE remains committed to expanding its humanitarian impact and leveraging innovation to improve the quality of life for millions of people around the world. He said: 'Humanity today faces numerous challenges, and the scarcity of clean water is among the most pressing. We are committed to driving innovation to deliver sustainable solutions that advance the UAE's vision of harnessing technology to serve humanity and extend support to communities suffering from water scarcity. 'We take pride in the contributions of our institutions in this vital field, and we will continue to support every project, idea or innovation that makes a real difference in people's lives. Our message is humanitarian, our tools are knowledge and innovation, and our goal is to ensure the UAE's support reaches those who need it most, wherever they are.' In his speech during the honouring ceremony, Saeed Al Tayer, chairman of the board of trustees of Suqia UAE, expressed his gratitude to Sheikh Mohammed for honouring the winners of the fourth awards and for his continued support for humanitarian and development efforts. Mr Al Tayer affirmed the award reflects Sheikh Mohammed's vision of fostering practical, forward-thinking solutions that address critical global needs. He said that it also highlights the UAE's and Dubai's unwavering commitment to contributing to global efforts to combat water scarcity, one of the most pressing challenges facing communities worldwide. According to UN reports, 2.2 billion people worldwide lack access to safe drinking water. Unicef also highlights that more than 1,000 children under the age of five die each day from diseases linked to inadequate water, sanitation, and hygiene. Many communities around the world continue to face severe shortages of clean water. 'As Suqia UAE marks its 10th anniversary, it has successfully implemented over 1,000 sustainable water projects in collaboration with Emirates Red Crescent and other partners, positively impacting the lives of around 15 million people across 37 countries," said Mr Al Tayer. "These efforts have demonstrated that innovative solutions are key to addressing the global water crisis. The Mohammed Bin Rashid Al Maktoum Global Water Award - named after an inspirational leader and beacon of hope - serves as a global platform that reinforces the UAE's pioneering role in humanitarian work, grounded in the noble values instilled by the late Sheikh Zayed bin Sultan Al Nahyan. "This legacy continues under the leadership of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, who said that 'The UAE remains dedicated to supporting hope and inspiring initiatives, serving as a champion of optimism in the Arab world',' said Al Tayer. "Guided by the vision and directives of Sheikh Mohammed, the Mohammed Bin Rashid Al Maktoum Global Water Award has become a focal point for companies, research centres, institutions, and innovators around the world, given its significant humanitarian and developmental impact. The award encourages individuals and research institutions to develop innovative, sustainable solutions for the production, desalination, and purification of water using clean energy sources. "In its first three awards, a total of 31 winners from 22 countries were recognised. The fourth event attracted applications from 46 countries. Today, Sheikh Mohammed honoured 12 winners from eight countries for presenting pioneering innovations that help address the challenge of water scarcity and provide safe drinking water to the most vulnerable communities,' said Al Tayer. Fourth event winners Innovative Projects Award – Large Projects: Green Waste Solutions Trading DMCC from the UAE secured first place for its LANDCO Tech project, which converts organic waste and wastewater into renewable energy, clean drinking water, and bio-fertilisers. The system employs COMBO containers and LANDCO modules powered by solar energy and biogas, integrating AI and blockchain technologies. It has a treatment capacity of 100m³ per day. Second place was awarded to the Sustainability Investment Promotion and Development Joint Stock Company (SIPCO) from Vietnam for its initiative to provide safe drinking water to vulnerable schools and communities. The project uses ceramic impregnated nano-silver pot filters (CSPF) to effectively remove bacteria, viruses, and sediments, benefiting millions globally in a cost-efficient manner. Third place went to Sotrad Water Srl from Belgium for its Pump&Drink® - Hydro1000 solution, a solar-powered system that pumps, treats, stores, and distributes drinking water sustainably. The system is already operational and serves over 200,000 people. Innovative Projects Award – Small Projects: Kumulus SAS from France took first place for its 'Kumulus Water – Drinking Water From Air' project. The solar-powered device uses a patented hybrid system to produce around 30 litres of drinking water per day and can be scaled to meet local demand, particularly in schools and rural communities. Jiangsu Fenghai New Energy Seawater Desalination Development Co Ltd, in partnership with Hangzhou Sunup Environmental Technology Co Ltd from China, received second place for their Intelligent Microgrid Seawater Treatment project. Using reverse osmosis and powered by solar or wind energy, the system produces up to 100 tonnes of water daily and supports the residents of ZS Island in China. Third place was awarded to FountAir LTD from Hong Kong for its AIR4WATER project—described as 'The Invisible Solution'. This split VAC-WG system, powered by renewable energy, can provide up to 150 litres of water daily and is being implemented in several countries. Innovative Research and Development Award – International Institutions: First place went to STEM SAS from France for its AQUAHIVE system, an energy-efficient and high-performance membrane distillation technology that uses solar, geothermal, or waste heat energy. The AI-optimised, patented heat exchange process significantly reduces carbon footprint and has a treatment capacity of 0.3 cubic metres per hour. The Energy and Water Company (ENOWA) – Neom from Saudi Arabia received second place for its innovative project that enables the extraction of valuable minerals—such as salt, lithium, and bromine—while recovering desalinated water from seawater or brackish brine. The solar-powered pilot facility, located at the Duba Desalination Plant, operates at 1,200m³ per day and reduces energy consumption compared to traditional methods. Innovative Research and Development Award – National Institutions: Khalifa University from the UAE earned first place for its Biomimetic Freshwater Generator for Solar Desalination without Brine Discharge. The system replicates the natural evaporation process of mangrove trees to generate freshwater from seawater while collecting salt as a byproduct, eliminating brine discharge. Using 10 units, the system can produce over five litres of water per day. Innovative Crisis Solutions Award: First place was awarded to SkyJuice Foundation Inc from Australia for its SkyHydrant Emergency Safe Water Solution. This lightweight, portable ultrafiltration system produces more than 5,000 litres of potable water daily and has been deployed in 74 countries to support communities facing crises and natural disasters. Innovative Individual Award – Distinguished Research Award: Professor Guihua Yu from the US received first place for his breakthrough technologies in solar-powered water purification and atmospheric water harvesting. His contributions include solar desalination using energy hydrogels, a solar-powered atmospheric water harvester, and biodegradable nanocellulose-based hydrogel filters. He holds more than 20 patents and leads a research centre at the University of Texas focused on sustainability and water innovation. Innovative Individual Award – Youth Award: Zhenyuan Xu from China was awarded first place for his Passive Solar Distillation system, which delivers ultra-high efficiency and extreme salt resistance. The system can produce more than 1.5 gallons of fresh water an hour per square metre of solar collection area. Affordable and field-tested, it supports sustainable development goals through education and community engagement.
Arabian Business
an hour ago
- Arabian Business
How $35bn Al Maktoum International Airport expansion is driving major Dubai South real estate investment boom as property prices tipped to grow 20%
The AED128bn ($35bn) expansion of Al Maktoum International Airport in Dubai South is fuelling a real estate boom that has major implications for the wider UAE economy, according to Betterhomes analysis. Property transactions in the area exceeded AED15bn ($4.1bn) in the first five months of 2025 and prices could increase by up to 20 per cent in the near term said analysts. Spanning 70 sq km, the new Al Maktoum Airport will feature five runways and 400 aircraft gates and is expected to accommodate more than 260m passengers annually upon completion. Al Maktoum International Airport drives Dubai South real estate growth More than just an enhancement to the aviation sector, however, the project is poised to drive growth across real estate, hospitality, and the broader economy. Investor interest in Dubai South is accelerating, driven by competitive pricing, strong rental yields, and ongoing infrastructure development, said Betterhomes. Louis Harding, CEO of Betterhomes, said: 'The development of Al Maktoum Airport is not just a milestone in aviation, but a catalyst for the next chapter of Dubai's real estate growth. We're already seeing the ripple effects in Dubai South. This is the early stage of a long-term growth cycle.' Rental rates have risen 20 per cent year-to-date, with a sharp increase in both off-plan and ready property sales. Betterhomes has also recorded more than 20 per cent monthly growth in buyer and tenant inquiries, while institutional capital is entering the market, most notably a $1bn investment partnership between a major Abu Dhabi-based asset manager and Brookfield. Property prices in Dubai South are forecast to rise by 15–20 per cent in the near term. Infrastructure enhancements, including the Dubai Metro Blue Line and Etihad Rail, will further strengthen demand, and a recent AED1bn ($272m) contract award for the airport's second runway signals continued momentum. Average prices in surrounding areas remain up to 60 per cent lower than in prime districts like Downtown Dubai, offering attractive value. A similar growth pattern was seen following the launch of Terminal 3 at Dubai International Airport in 2005, when surrounding areas such as Dubai Marina and Al Barsha experienced substantial appreciation. Between the launch and early 2008, average sale prices had nearly doubled. With demand surging and a long-term development pipeline in motion, the neighbourhood is emerging as one of the UAE's most promising real estate growth corridors. The $35bn terminal expansion is set to create employment and housing opportunities for over one million people, with far-reaching effects across multiple sectors. As job creation increases, population growth is expected to follow, driving greater demand for housing and supporting broader economic development. Surrounding areas are already experiencing a rise in transactions, property prices, rental rates and yields. The aviation sector alone is projected to contribute over 30 per cent to the emirate's GDP by 2030.
The National
an hour ago
- The National
Adnoc Gas awards $5bn in contracts for Rich Gas Development project
Abu Dhabi's Adnoc Gas has awarded contracts worth $5 billion for a key project that is part of its major operational expansion and self-sufficiency strategy. The final investment decision is the first of three phases for the Rich Gas Development project, which is expected to boost the company's Ebitda by 40 per cent through 2029, Adnoc Gas said in a statement on Tuesday. Ebitda – or earnings before interest, taxes, depreciation and amortisation – is a key metric used by companies to measure core profitability. The contracts are part of what Adnoc Gas, a unit of state-owned energy major Abu Dhabi National Oil Company, said is its biggest ever capital investment. They involve boosting key processing units to increase efficiency across its four gas facilities in Asab, Buhasa, onshore Habshan and Das Island, the company said. The engineering, procurement and construction management contracts were awarded in three tranches: Scotland-based professional services firm Wood secured $2.8 billion for Habshan, while a consortia of London-based Petrofac and Dubai's Kent received $1.2 billion and $1.1 billion for Das Island, and Asab and Buhasa, respectively. Adnoc Gas first hinted in November that it would make the investment decision for the Rich Gas Development project in 2025. A decision for another major project, the Bab Gas Cap development, is expected in 2026. The Rich Gas Development project will help develop new gas reservoirs, which in turn, would increase liquid gas exports, support the UAE's gas self-sufficiency agenda and provide feedstock to the country's growing petrochemical industry, the company said. The first phase of the project will focus on optimising and removing bottlenecks in existing Adnoc Gas assets while unlocking new and valuable gas streams, in addition to future-proofing its business. The company plans to decide on the next two phases of the project at Habshan and Ruwais to 'enable the delivery of greater production capacity to meet growing market demands', but did not give a timeline. The investment in the Rich Gas Development project marks a 'significant milestone' for the company, Fatema Al Nuaimi, chief executive of Adnoc Gas, said in the statement. 'This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees and the UAE,' she added. Adnoc Gas, which has access to 95 per cent of the UAE's natural gas reserves, is looking to boost exports of products such as liquefied natural gas, liquefied petroleum gas and naphtha. Its customers in the Emirates include utilities and industrial companies, which are supplied commercial quantities through an extensive network of pipelines. Adnoc Gas, alongside other Adnoc units, has been boosting investments to expand its geographical and operational reach. In May, the company reported a 7 per cent year-on-year increase in net income to $1.27 billion, driven by strong domestic demand for gas and continued economic growth in the UAE, the Arab world's second-largest economy. Adnoc Gas is also eligible for potential inclusion in the Morgan Stanley Capital International and Financial Times Stock Exchange emerging market indexes as early as June and September respectively, it said. Adnoc sold part of its stake in the subsidiary to institutional investors as it looks to improve liquidity and raise capital. The recently completed offering of 3.1 billion shares in Adnoc Gas increased the free float by 4 per cent to 9 per cent.
