Masdar Signs PPA for 1GW Wind Farm in Kazakhstan
Deal News | Nov 17, 2024 | Zawya
In a significant stride towards advancing renewable energy capacity, Abu Dhabi Future Energy Company, also known as Masdar, has signed a Power Purchase Agreement (PPA) for a 1GW wind farm situated in Kazakhstan's Jambyl region. This agreement marks Masdar's first project in Kazakhstan and is a crucial part of its broader strategy to expand its renewable energy portfolio to 100GW by 2030. The agreement was signed on the sidelines of the COP29 conference in Baku, Azerbaijan, and is aligned with Kazakhstan's goals to increase its renewable energy capacity to 15% of its total energy supply by 2030. The project also involves strategic partnerships with W Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund, and includes a 600 MWh Battery Energy Storage System. Construction is set to commence by Q1 2026, with the goal of powering approximately 300,000 homes and reducing CO2 emissions by 2 million tonnes annually. This development reinforces UAE and Kazakhstan's shared commitment to sustainable energy initiatives.
Sectors
- Renewable Energy
- Energy Infrastructure
Geography
- Kazakhstan – The article is centered around Masdar's wind farm project in Kazakhstan, focusing on its energy policies and partnerships in the region.
- United Arab Emirates – Masdar, the lead developer of the project, is based in the United Arab Emirates, highlighting the UAE's foreign investment strategy in renewable energy.
Industry
- Renewable Energy – The article discusses Masdar's development of a wind farm, which is a part of the renewable energy sector, focusing on sustainable and clean energy solutions.
- Energy Infrastructure – The development of the wind farm includes substantial infrastructure investment and construction, fitting within the energy infrastructure industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Masdar (Abu Dhabi Future Energy Company PJSC) | Lead Developer | Company | A global clean energy pioneer developing the 1GW wind project in Kazakhstan as part of its renewable energy expansion strategy. |
| Financial Settlement Centre for Renewable Energy Sources Support LLP | Signatory of PPA | Company | Entered into the power purchase agreement with Masdar for the wind farm project. |
| W Solar | Project Partner | Company | Partners with Masdar in developing the wind project. |
| Qazaq Green Power | Project Partner | Company | Part of the Samruk-Kazyna Group, involved in the project’s development. |
| Kazakhstan Investment Development Fund | Project Partner | Company | Collaborates in the development of the wind project in Kazakhstan. |
| Ministry of Energy of Kazakhstan | Government Partner | Government | Collaborated on the investment agreement and supports Kazakhstan's clean energy transition. |