Masdar to develop new renewable energy projects in Kazakhstan
Abu Dhabi's Masdar has announced that it will be developing new renewable energy and battery energy storage system (BESS) projects in Kazakhstan to help the central Asian republic reach its clean energy targets. In a statement on Tuesday, Abu Dhabi's clean energy company said it has agreed to link up with Samruk-Kazyna, Kazakhstan's sovereign wealth fund, to explore the development of a '24/7' project that will provide up to 500 megawatts of baseload renewable energy and BESS projects with up to 2 gigawatts capacity. The two companies exchanged documents on the collaboration in the presence Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Kazakhstan President Kassym-Jomart Tokayev in Astana. 'This agreement builds on the already strong energy partnership between our two countries and will support Kazakhstan's ambitious renewable energy objectives,' said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and chairman of Masdar. '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.' Kazakhstan is aiming to generate 15 per cent of its electricity from renewable energy sources by 2030 and 50 per cent by 2050. Masdar is currently developing a 1-gigawatt wind farm with a 600-megawatt-hour BESS in Kazakhstan. It is set to be one of the largest wind projects in the region. It 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 1-gigawatt 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. 'Kazakhstan is a key strategic partner for Masdar and today's agreement further strengthens our presence in the country,' said Masdar chief executive Mohamed Al Ramahi. The deal strengthens Masdar's partnership with Samruk-Kazyna. Al Ramahi said 'we will continue to work closely together to support energy security, economic diversification and climate action'. Masdar is also active in other Central Asian countries including, in Uzbekistan and Azerbaijan. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts. The company, jointly owned by Taqa, Adnoc and Mubadala, is aiming for 100 gigawatts of global portfolio capacity by 2030.
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