Masdar signs roadmap agreement to develop up to 1 GW of wind energy in Kazakhstan
Masdar looking to develop 1 GW wind farm in Kazakhstan: UAE renewables giant Masdar has inked a roadmap agreement with Kazakhstan to develop a wind farm in the southern part of the country with a potential production volume of 1 GW with a battery energy storage systems (BESS) facility, according to a statement. The financials of the agreement and a timeline for deployment have not been provided.
We knew this was happening, but it’s bigger than expected: The agreement builds on a previous MoU signed between the parties back in January. The company said at the time that the first phase of the project will generate some 500 MW of clean energy and that it may include a BESS facility.
Masdar aren’t the only ones jumping on the bandwagon: KSA’s Acwa Power signed back in March an agreement with Samruk-Kazyna and the Kazakh Energy Ministry to build and manage a 1 GW wind farm and an accompanying BESS facility.
The UAE is helping Kazakhstan achieve its net zero target: UAE state-owned Abu Dhabi Developmental Holding Company (ADQ) signed a USD 6 bn investment agreement in 2021 with Kazakh sovereign wealth fund Samruk-Kazyna to build two hydroelectric power plants, a wind farm, and solar plant in the country. Kazakhstan has a carbon-neutrality target set for 2060 and another target to source 50% of its electricity from renewables by 2050.