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

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]