Masdar, the UAE’s leading clean energy company, has signed a Power Purchase Agreement (PPA) with the Financial Settlement Centre for Renewable Energy Sources Support LLP for its 1GW wind farm project in the Jambyl region of Kazakhstan.
The agreement was signed during COP29 in Baku, in the presence of Sungat Yessimkhanov, Vice Minister of Energy of Kazakhstan, and Sharif Al Olama, Under-Secretary for Energy & Petroleum Affairs at the UAE’s Ministry of Energy and Infrastructure. Abdulla Zayed, Director of Business and Project Development at Masdar, and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, formalized the deal.
This PPA comes shortly after Masdar signed an Investment Agreement with Kazakhstan’s Ministry of Energy for the wind farm, which is set to become one of the largest wind energy projects in the Commonwealth of Independent States (CIS) region.
Mohamed Jameel Al Ramahi, CEO of Masdar, stated, “This agreement underscores our long-term commitment to helping Kazakhstan achieve its ambitious clean energy targets. We have substantial investments in Central Asia, and this project represents a key addition to our portfolio. It plays a vital role in helping us meet our goal of 100GW of renewable energy capacity by 2030. We are excited to collaborate with Kazakhstan to expand its renewable energy capacity and support its energy transition.”
Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, added, “This agreement is a crucial step following the Investment Agreement between Kazakhstan’s Ministry of Energy and Masdar. It will help further develop our renewable energy infrastructure and contribute to a more sustainable and resilient economy.”
The wind farm marks Masdar’s first project in Kazakhstan, the largest economy in Central Asia. Located in southern Kazakhstan, the project will include a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS). Masdar is leading the 1GW development, alongside partners W Solar, Qazaq Green Power (a Samruk-Kazyna Group company), and the Kazakhstan Investment Development Fund.
Construction is expected to begin in the first quarter of 2026, with the wind farm set to power approximately 300,000 homes in southern Kazakhstan, reducing carbon dioxide emissions by an estimated 2 million tonnes annually once completed.
This announcement builds on the commitment made by the UAE and Kazakhstan at COP28 to collaborate on advancing Kazakhstan’s renewable energy sector. The wind farm is a key part of Kazakhstan’s goal to increase renewable energy to 15% of its energy mix by 2030 and to 50% by 2050, while also striving for carbon neutrality by 2060.
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