Skip to content Skip to Search
Skip navigation

Masdar to develop wind farm in Kazakhstan

By Andy Sambidge
Technicians work on a turbine. Masdar's wind farm will help Kazakhstan meet its 50% renewables target for 2050 Siemens AG
Technicians work on a turbine. Masdar's Kazakh wind farm will help the country meet its 50% renewables target for 2050
  • Project also includes battery energy storage system
  • Central Asia is key market for UAE renewables specialist
  • Masdar working on three solar power developments in Uzbekistan

Renewable energy giant Masdar has signed a deal to develop a wind farm in Kazakhstan.

The facility will have a capacity of up to 1 gigawatt as well as a battery energy storage system.

The agreement was signed on the sidelines of the Astana International Forum and supports the country’s goal of achieving half its energy mix from renewables by 2050.

Central Asia is a key market for Abu Dhabi’s Masdar. It reached financial close on three solar power projects in Uzbekistan in April.

It is also developing a solar plant in Azerbaijan and has signed agreements for wind and green hydrogen projects in the country, which sits on the boundary between Asia and Europe.

The wind farm is Masdar’s first project in Kazakhstan and CEO Mohamed Jameel Al Ramahi said it “demonstrates our commitment to helping the Kazakh government achieve its clean energy objectives”.

Marat Tulebaev, CEO of the Kazakhstan Investment Development Fund Management Company, described the project as a “significant step forward” as the country seeks to meet “growing demand for electricity by helping to shift the energy supply model towards renewable energy sources”.

Masdar and the Kazakh authorities signed the deal in Astana last weekSupplied
Masdar and the Kazakh authorities signed the deal in Astana last week

Established in 2006, Masdar is active in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of more than 20gw. It aims to reach total renewable energy capacity of at least 100gw by 2030.

Last week a consortium led by Masdar signed an agreement to secure land in Egypt to build a $10 billion, 10gw capacity wind farm.

Infinity Power, a joint venture between Masdar and Egyptian renewables business Infinity, and Hassan Allam Utilities, a Cairo-based developer and investor, signed the deal with Egypt’s New and Renewable Energy Authority.

Latest articles

Air Arabia profit falls 22% amid fuel and currency woes

UAE carrier Air Arabia reported a 22 percent decline in net profit for the first quarter of 2024 compared to the previous year, citing challenges such as fuel price fluctuations, currency volatility, and a shift in seasonality due to Ramadan. The low-cost carrier reported earnings of AED266 million ($71 million) for the first three months ended March 31, 2024, […]

The Emirates NBD building in Dubai. The bank reported a 90 percent fall in debt skipping following Dubai's new financial rules

Rate of debt skipping falls 90% at Dubai’s biggest bank

There has been a dramatic decline in the number of people leaving the country to avoid debt obligations to UAE banks.  The fall in so-called “skips” is a result of the Gulf state’s introduction of legal reforms such as the decriminalisation of bounced cheques, and new insolvency and bankruptcy laws, experts said. In the past […]

Funds in green sukuk are placed in traceable, environmentally friendly investments such as renewable energy projects

Demand is high for Alrajhi bank’s first green sukuk

Saudi Arabia’s Alrajhi Bank has completed its $1 billion sukuk – having raised $3.5 billion in subscriptions from local and international investors – as the kingdom’s lenders push to raise funds for the government’s expensive giga-projects.  Sukuk are sharia-compliant bonds that were developed as an alternative to conventional bonds, which are not considered permissible by […]

Mubadala Energy employed the drillship West Capella for its latest gas discovery off Indonesia

Mubadala Energy makes second gas discovery off Indonesia

Mubadala Energy, a wholly owned subsidiary of Abu Dhabi wealth fund Mubadala, has made a significant deep-sea gas discovery in Indonesia’s South Andaman Block. The Tangkulo-1 exploration well was drilled about 65 kilometres off North Sumatra and has an estimated capacity of 80 million-100 million cubic feet per day and over 2,000 barrels of condensate. […]