emirates7 - Abu Dhabi Future Energy Company (Masdar), the UAE’s leading clean energy enterprise, has finalized 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, signed on the sidelines of COP29 in Baku, was witnessed by Sungat Yessimkhanov, Kazakhstan’s Vice Minister of Energy, and Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the UAE’s Ministry of Energy and Infrastructure. Abdulla Zayed, Masdar’s Director of Business and Project Development, and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, represented their respective organizations during the signing.
This milestone follows closely after Masdar’s Investment Agreement with Kazakhstan’s Ministry of Energy, solidifying the wind farm as one of the largest renewable energy projects in the Commonwealth of Independent States (CIS) region.
Mohamed Jameel Al Ramahi, CEO of Masdar, emphasized the company’s dedication to advancing Kazakhstan’s renewable energy aspirations. He stated, *“This agreement underscores Masdar’s commitment to supporting Kazakhstan in meeting its clean energy targets. Central Asia is a key focus for us, and this project marks a significant expansion of our portfolio, bringing us closer to our goal of achieving 100GW of renewable energy capacity by 2030. We are eager to collaborate with Kazakhstan in its energy transition journey.”*
Echoing these sentiments, Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, remarked, *“This agreement aligns with the Investment Agreement signed with Masdar and supports further development of Kazakhstan’s renewable energy infrastructure, contributing to a greener and more sustainable economy.”*
The wind farm, Masdar’s first project in Kazakhstan, will include a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS) and is being developed in partnership with W Solar, Qazaq Green Power (a Samruk-Kazyna Group entity), and the Kazakhstan Investment Development Fund. Located in southern Kazakhstan, the wind farm is expected to begin construction in early 2026. Once operational, it will supply clean energy to around 300,000 homes, offsetting 2 million tonnes of CO₂ equivalent emissions annually.
The project builds on commitments made by the UAE and Kazakhstan at COP28 to enhance Kazakhstan’s renewable energy capabilities. It aligns with Kazakhstan’s goals to increase renewables’ share to 15% of the energy mix by 2030 and 50% by 2050, while also achieving carbon neutrality by 2060.
The agreement, signed on the sidelines of COP29 in Baku, was witnessed by Sungat Yessimkhanov, Kazakhstan’s Vice Minister of Energy, and Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the UAE’s Ministry of Energy and Infrastructure. Abdulla Zayed, Masdar’s Director of Business and Project Development, and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, represented their respective organizations during the signing.
This milestone follows closely after Masdar’s Investment Agreement with Kazakhstan’s Ministry of Energy, solidifying the wind farm as one of the largest renewable energy projects in the Commonwealth of Independent States (CIS) region.
Mohamed Jameel Al Ramahi, CEO of Masdar, emphasized the company’s dedication to advancing Kazakhstan’s renewable energy aspirations. He stated, *“This agreement underscores Masdar’s commitment to supporting Kazakhstan in meeting its clean energy targets. Central Asia is a key focus for us, and this project marks a significant expansion of our portfolio, bringing us closer to our goal of achieving 100GW of renewable energy capacity by 2030. We are eager to collaborate with Kazakhstan in its energy transition journey.”*
Echoing these sentiments, Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, remarked, *“This agreement aligns with the Investment Agreement signed with Masdar and supports further development of Kazakhstan’s renewable energy infrastructure, contributing to a greener and more sustainable economy.”*
The wind farm, Masdar’s first project in Kazakhstan, will include a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS) and is being developed in partnership with W Solar, Qazaq Green Power (a Samruk-Kazyna Group entity), and the Kazakhstan Investment Development Fund. Located in southern Kazakhstan, the wind farm is expected to begin construction in early 2026. Once operational, it will supply clean energy to around 300,000 homes, offsetting 2 million tonnes of CO₂ equivalent emissions annually.
The project builds on commitments made by the UAE and Kazakhstan at COP28 to enhance Kazakhstan’s renewable energy capabilities. It aligns with Kazakhstan’s goals to increase renewables’ share to 15% of the energy mix by 2030 and 50% by 2050, while also achieving carbon neutrality by 2060.