“Masdar” signs a power purchase agreement in Kazakhstan

Abu Dhabi Future Energy Company (Masdar) signed a power purchase agreement with the Financial Settlement Center to support renewable energy sources, as part of the development of a one-gigawatt wind power plant project in the Jambyl region in the Republic of Kazakhstan.

The signing ceremony of the agreement took place on the sidelines of the activities of the Conference of the Parties “COP29” held in Baku, the capital of Azerbaijan, in the presence of the Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, Eng. Sharif Al-Ulama, and the Deputy Minister of Energy of the Republic of Kazakhstan, Sungat Yesimkhanov, and it was signed by the Director of the Business Development Department. And projects in “Masdar”, Abdullah Zayed, and the General Director of the Financial Settlement Center for Supporting Renewable Energy Sources, Gulzan Nalibaeva.

This agreement comes days after Masdar signed an investment agreement with the Ministry of Energy of Kazakhstan to develop the station, which will constitute one of the largest wind energy stations in the CIS region.

Masdar’s CEO, Mohammed Jameel Al Ramahi, said that this agreement reflects the company’s firm commitment to contribute to supporting Kazakhstan’s efforts to achieve its ambitious goals in the field of clean energy, pointing to the strategic investments and partnerships that Masdar has in the Central Asia region, and that this project It represents an important addition to its project portfolio, and contributes to achieving its goal of developing 100 GW of renewable energy projects by 2030.

For her part, Gulzan Nalibayeva said that this step comes within the framework of the investment agreement signed between the Ministry of Energy of Kazakhstan and Masdar to develop the station, and that it would contribute to strengthening the infrastructure for renewable energy projects in Kazakhstan and moving forward towards a sustainable and more flexible economy. .