Masdar to explore set-up of 1 GW wind power project in Kazakhstan

Clean energy company Masdar has entered an agreement with two entities to explore the development of a wind power plant with up to 1 gigawatt (GW) total capacity in Kazakhstan.

Masdar’s agreement, with the Kazakhstan Investment Development Fund (KIDF) Management Company and the Kazakh Ministry of Energy, will see the three entities  jointly develop a 1 GW wind power project, with the first phase focused on deploying a capacity of 500 megawatts (MW) with the possible inclusion of battery storage.

Mohamed Jameel Al Ramahi, CEO of Masdar, said, “We look forward to strengthening our relationship with Kazakhstan, and to supporting the Kazakh Government’s achievement of its clean energy objectives. Masdar has already developed a strong presence in Central Asia, and by leveraging our experience of the region, we aim to deliver a world-class wind plant that will support Kazakhstan’s energy transition and advancement of its net zero ambitions.”

Focused on cooperation

Nurlan Zhakupov, CEO of KIDF, said, “KIDF is a government tool for minimising investment risks for foreign investors through project co-financing and was created to ensure the comfort of investors when implementing projects in Kazakhstan. We are pleased that Masdar, one of the leading global players in the renewable energy field, has chosen us as a partner for the joint implementation of a wind farm in Kazakhstan with up to 1 GW total capacity. We look forward to enhancing our cooperation and establishing a long-term strategic partnership with Masdar to develop renewable energy projects in Kazakhstan.”

Kazakhstan is pursuing a goal of reaching carbon neutrality by 2060 and is also aiming to increase its share of renewable energy in domestic electricity generation to 10 per cent by 2030 and 50 per cent by 2050.

In other news, Masdar has signed joint agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR), on the sidelines of Abu Dhabi Sustainability Week (ADSW).

SOCAR, an integrated national oil and gas company, supports the energy security of Azerbaijan.

The agreements will cover the development of onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a total combined capacity of 4 gigawatts (GW), Masdar said.

Read: UAE’s Masdar, Azerbaijan’s SOCAR to develop renewable energy projects