Masdar Signs PPA for 1GW Wind Farm in Kazakhstan

Masdar inked a PPA for a 1GW wind farm in Kazakhstan’s Jambyl region at COP29, reinforcing UAE-Kazakhstan renewable energy collaboration. Featuring 600MWh BESS, the project supports Kazakhstan’s clean energy goals, targeting 15 percent renewables by 2030.

November 18, 2024. By EI News Network

Abu Dhabi based renewebale energy firm Masdar has signed a Power Purchase Agreement (PPA) with the Financial Settlement Centre for Renewable Energy Sources Support LLP for its 1GW wind farm in Kazakhstan's Jambyl region.

The agreement, finalised during COP29 in Baku, underscores Masdar’s commitment to expanding its clean energy footprint in Central Asia.

The signing ceremony was attended by Sungat Yessimkhanov, Kazakhstan’s Vice Minister of Energy, and Sharif Al Olama, UAE’s Undersecretary for Energy and Petroleum Affairs. Abdulla Zayed, Director of Business and Project Development at Masdar, and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre, signed the agreement.

This project, Masdar's first in Kazakhstan, will be one of the largest wind farms in the CIS region. It includes a 600-megawatt-hour Battery Energy Storage System (BESS) and is expected to supply power to 300,000 homes, reducing annual CO2 emissions by 2 million tonnes. Construction is set to begin in Q1 2026.

Mohamed Jameel Al Ramahi, CEO of Masdar, stated, “This agreement underscores Masdar’s commitment to helping Kazakhstan achieve its clean energy ambitions. Central Asia remains a key focus for us, with this project marking a significant addition to our portfolio as we work towards our 100GW renewable energy capacity target by 2030. We look forward to collaborating with Kazakhstan to enhance its renewable energy capacity and drive its energy transition. The wind farm aligns with Kazakhstan’s ambitions to derive 15 percent of its energy from renewables by 2030 and achieve carbon neutrality by 2060.”

Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, remarked, “This agreement builds on the Investment Agreement between Kazakhstan’s Ministry of Energy and Masdar, further strengthening our renewable infrastructure and paving the way for a greener, more sustainable economy.”

The project, developed in partnership with W. Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund, builds on a UAE-Kazakhstan pledge at COP28 to enhance renewable energy collaboration.

Since 2006, Masdar has established itself as a leader in global sustainability, with projects in over 40 countries and a growing focus on green hydrogen and renewable energy.

Tags:

Middle East Market

Kazakhstan’s power grid

Mohamed Jameel Al Ramahi

Gulzhan Nalibayeva

General Director

Financial Settlement Centre for Renewable Energy S