Masdar Signs Power Purchase Agreement For Its 1GW Wind Farm Project In Kazakhstan

Masdar, a leading clean energy company in the UAE, has entered into a Power Purchase Agreement (PPA) with the Financial Settlement Centre for Renewable Energy Sources Support LLP. This agreement pertains to Masdar's 1GW wind farm located in Kazakhstan's Jambyl region. The signing was witnessed by key officials from Kazakhstan and the UAE during COP29 in Baku.

The agreement was formalised by Abdulla Zayed of Masdar and Gulzhan Nalibayeva from the Financial Settlement Centre. It follows closely on the heels of an Investment Agreement signed with Kazakhstan's Ministry of Energy. This project is poised to become one of the largest wind farms in the Commonwealth of Independent States (CIS) region.

Masdar's CEO, Mohamed Jameel Al Ramahi, expressed that this agreement underscores their dedication to aiding Kazakhstan in reaching its renewable energy targets. "This project is a major addition to our portfolio and plays an important role in ensuring we meet our target of 100GW of renewable energy capacity by 2030," he stated.

Gulzhan Nalibayeva highlighted that this PPA is crucial for advancing Kazakhstan’s renewable infrastructure. "It supports further advancements in our renewable infrastructure, contributing to a greener and more resilient economy," she said.

This wind farm marks Masdar's first venture into Kazakhstan, Central Asia's largest economy. Located in the south, it includes a 600-megawatt-hour Battery Energy Storage System (BESS). Masdar leads this 1GW project alongside W Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund.

Construction is slated to begin by early 2026. Once operational, it will supply electricity to around 300,000 homes in southern Kazakhstan and reduce CO2e emissions by two million tonnes annually.

Strategic Partnerships

The announcement builds on commitments made by the UAE and Kazakhstan at COP28 to enhance Kazakhstan’s renewables sector. The wind farm will aid Kazakhstan’s goal of increasing renewables to 15% of its energy mix by 2030 and achieving carbon neutrality by 2060.

This initiative reflects Masdar's broader strategy of investing heavily across Central Asia through various partnerships. The project not only expands their portfolio but also aligns with regional energy transition goals.

With inputs from WAM