Masdar Expands In Kazakhstan With New Renewable Energy Deal

2025-05-13 07:07:10

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 13. Abu Dhabi clean energy firm Masdar has signed a new collaboration agreement with Kazakhstan's sovereign wealth fund Samruk-Kazyna to jointly develop renewable energy and battery storage projects in the Central Asian nation, Trend reports.

According to the producer, the deal outlines plans for a '24/7' clean energy project delivering up to 500 MW of baseload renewable power and up to 2 GW of battery storage.

UAE Industry and Advanced Technology Minister Dr. Sultan Al Jaber and Samruk-Kazyna CEO Nurlan Zhakupov formalized the agreement, which builds on the two countries' growing energy partnership.

In a related development, the UAE and Kazakhstan energy ministers exchanged documents marking the ratification of a government agreement signed at COP28 for Masdar's 1GW wind farm in southern Kazakhstan - one of the region's largest.

Masdar, already active in Kazakhstan, Uzbekistan, and Azerbaijan, sees Central Asia as a strategic growth region. Kazakhstan aims to generate 15% of its electricity from renewables by 2030 and reach 50% by 2050.

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