Abu Dhabi Future Energy To Construct Wind Plant In Southern Kazakhstan
Date
11/14/2024 2:12:56 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, November 14. Abu Dhabi
Future energy will build a wind power plant in the Zhambyl region
of the Republic of Kazakhstan, Trend reports.
The topic was discussed during the signing of a series of
documents by the Minister of Energy of Kazakhstan, Almassadam
Satkaliyev, at the COP29 Climate Summit in Baku, Azerbaijan, held
under the auspices of the United Nations Framework convention on
Climate Change.
The expected investment amount for the wind power project in the
Zhambyl region of the Republic of Kazakhstan, which is planned by
Abu Dhabi Future Energy Company, is estimated at $1.5 billion.
This document was signed within the framework of the
intergovernmental agreement with the UAE, aimed at developing
renewable energy projects, implementing a green transition,
reducing carbon emissions, and combating climate change.
In particular, the Minister of Energy signed a memorandum of
understanding between the Ministry of Energy of Kazakhstan and the
Asian Development Bank (ADB).
Among the signed documents was also an agreement with the
government of the People's Republic of China regarding the
implementation of renewable energy projects, the transition to
environmentally clean technologies, and emissions reduction. The
investment in these projects is expected to exceed $2 billion.
Masdar, also known as the Abu Dhabi Future Energy Company, is an
Emirati state-owned renewable energy company. It was founded and
chaired by Sultan Al Jaber in 2006 as a subsidiary of Mubadala
Investment Company.
To note, the 29th session of the Conference of the Parties to
the United Nations Framework Convention on Climate Change (COP29)
started in Baku on November 11. The United Nations Framework
Convention on Climate Change is an agreement signed at the Earth
Summit in Rio de Janeiro in June 1992 to prevent dangerous human
interference in the climate system.
A total of 198 countries are Parties to the Convention. Unless
the parties decide otherwise, the COP is held annually. The first
COP event took place in March 1995 in Berlin, and its secretariat
is located in Bonn.
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