Renewable Energy Masdar signs agreement for Kazakhstan windfarm By Chris Hamill-Stewart November 12, 2024, 7:17 PM Masdar Abdulla Zayed, Masdar's director of business and project development, and Almassadam Satkaliyev, Kazakhstan's minister of energy, sign the investment agreement at Cop29 in Baku Windfarm will generate 1GW Deal signed at Cop29 Power for 300,000 homes A $1.4 billion investment for the development of a 1GW windfarm in Kazakhstan has been signed between the Abu Dhabi Future Energy Company (Masdar) and Kazakhstan’s Ministry of Energy. The agreement, signed at Cop29, the 2024 United Nations Climate Change Conference, currently taking place in Baku, Azerbaijan, builds on commitments already made between the UAE and Kazakhstan to cooperate on the central Asian country’s renewables sector. The windfarm, in the Jambyl region in southern Kazakhstan, 500 miles from the capital, Astana, will help accelerate the country’s energy transition, said Kazakhstan’s minister of energy, Almassadam Satkaliyev. It will also support the country’s ambitions to increase renewables capacity to 15 percent of its energy supply by 2030, and to 50 percent by 2050, and achieve carbon neutrality by 2060, he said. Acwa Power agrees $1.5bn Kazakh wind project Bahrain signs deal with Masdar to develop wind energy Masdar buys Greece’s biggest investor in renewables The Kazakhstan windfarm will be one of the largest in the region. When completed it will provide power to approximately 300,000 homes in the south of Kazakhstan, avoiding 2 million tonnes of CO2 emissions a year. The project also features a 600 megawatt-hour battery energy storage system. Suhail Mohamed Al Mazrouei, the UAE’s minister of energy and infrastructure, said: “We are proud to support Kazakhstan’s net-zero ambitions while in pursuit of implementing the key pillar of the historic UAE Consensus of tripling global renewable energy by 2030.” The 1GW windfarm project is being co-developed by the Thai alternative energy company W Solar, Qazaq Green Power, part of Kazakhstan’s Samruk-Kazyna sovereign wealth fund, and the Kazakhstan Investment Development Fund, with Masdar as the lead developer. Mohamed Jameel Al Ramahi, Masdar’s CEO, said: “With Masdar’s proven success in implementing large-scale renewable energy projects worldwide, we are confident that this 1GW windfarm will have demonstratively positive impact in its surrounding region.” Masdar has already collaborated with governments on projects across the region, including in Armenia, Azerbaijan and Uzbekistan.
