Abu Dhabi’s Masdar inks agreement to develop solar plant in Turkmenistan

Abu Dhabi-based renewable energy company Masdar has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo), to develop a 100 megawatt (MW) solar photovoltaic (PV) plant.

#Masdar is pleased to announce the signing of an agreement with Turkmenenergo to develop a 100 MW #solar power project, our first project in #Turkmenistan. pic.twitter.com/AM8sElxjHG

— Masdar (@Masdar) November 22, 2022

The agreement builds on a MoU signed between Masdar and the Turkmenistan Government in October 2021 to explore the development of solar and wind power projects in the country on a public-private partnership (PPP) basis. The plant will be Masdar’s first project in Turkmenistan.

“Today, we have signed a joint development agreement for a 100MW solar power project with the Masdar company of the United Arab Emirates. We hope that this document will mark the beginning of a new stage in the development of the electric power industry of Turkmenistan through the construction of solar and wind power plants, in which this company has accumulated a large and rich experience,” said Charymurat Purchekov, deputy chairman of the cabinet of Ministers of Turkmenistan.

Turkmenistan, which has one of the largest gas reserves across the world, is looking to modernise its energy infrastructure and reduce its dependence on hydrocarbons.

“As a global leader in renewable energy with many projects across Central Asia, Masdar has the right expertise and experience needed to support Turkmenistan’s development of its renewable energy sector,” added Mohammed Jameel Al Ramahi, Masdar CEO.

Masdar has made considerable efforts to ramp up its renewable energy projects across Central Asian countries. It recently achieved a ‘financial close’ for its 230MW Garadagh solar PV plant in Azerbaijan.

Read: Masdar announces financial close on Garadagh Solar PV Plant in Azerbaijan

Masdar also signed an MoU with the Kyrgyz Republic’s Ministry of Energy to support the country’s clean-energy objectives.

Read: UAE’s Masdar, Kyrgyzstan sign MoU to explore renewable energy opportunities

Last year, Masdar inaugurated the Nur Navoi Solar Project in Uzbekistan, the first independent power producer (IPP) project in the Central Asian country.

Read more: Abu Dhabi’s Masdar inaugurates 100MW Nur Navoi solar project in Uzbekistan