UAE, Kazakhstan sign landmark agreements to develop 1GW of renewables capacity

Dubai [UAE], December 3 (ANI/WAM): The governments of the United Arab Emirates and the Republic of Kazakhstan today signed an agreement outlining a commitment to co-operation in the development of Kazakhstan’s renewables sector, including through the development of a large-scale wind power project with a 1GW capacity. Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, oversaw the signing of the agreement between the Kazakhstan Ministry of Energy and the UAE Ministry of Energy and Infrastructure. The signing took place at COP28, in Dubai.

Alongside this, a Joint Development Agreement was signed between Abu Dhabi Future Energy Company (Masdar) – the UAE’s clean energy champion, who will spearhead the project – W Solar, Qazaq Green Power QGP (a Samruk-Kazyna Group company), and the Kazakhstan Investment Development Fund, to develop and implement a 1GW wind project. Minister of Energy of the Republic of Kazakhstan Almassadam Satkaliyev noted, “The government agreement for the development of a 1GW large-scale wind power project that we are signing today is in line with the policy of the Republic of Kazakhstan to combat global climate change, including by achieving carbon neutrality by 2060. We are highly interested in fostering our mutually beneficial cooperation with our UAE colleagues, aimed at promoting innovation in the field of renewable energy.

” Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said, “The UAE and Kazakhstan have a strong track record of co-operation and collaboration in the energy space. We are pleased to strengthen this partnership with today’s agreement, and look forward to working closely with our friends in Kazakhstan on promoting energy security and the green transition. In particular, this 1GW wind project, led by Masdar, will make an important contribution to increasing the country’s energy security and renewables capacity.

” Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi, added, “We are delighted to move forward with our first project in Kazakhstan and to help the country meet its ambitious renewable energy targets. Masdar has a track record of delivering world-class renewables projects globally, and we are confident that this wind project will be transformative for the surrounding regions. We look forward to continuing our work with the Government of Kazakhstan, as well as our partners at Qazaq Green Power, the Kazakhstan Investment Development Fund, and W Solar.

We are excited to see how our projects across the region continue to develop. ” W Solar Chief Executive Office Muhammad Zafar commented, “Our collaboration with Masdar, Qazaq Green Power and KIDF in Kazakhstan is a testament to W Solar’s commitment to advancing renewable energy projects across the globe. This project in Kazakhstan is not just about energy generation, but about low carbon, safe and sustainable energy supplies and contributing to a greener planet.

” Chairman of the Board of Samruk-Kazyna, Nurlan Zhakupov, stated, “Low-carbon development is one of the main goals of Samruk-Kazyna. We have approved the Concept of Low-Carbon Development, which includes such directions as the diversification of the energy balance through alternative energy sources and the development of electricity accumulation and storage systems. Our wind power plant project with Masdar is a notable example of our efforts towards carbon neutrality.

It is of great importance for us and for the country as a whole. ” Qazaq Green Power PLC Chief Executive Officer, Yernar Zhanadil, affirmed, “We are thrilled to join forces with Masdar, W Solar, and KIDF in this momentous partnership. This collaboration underscores our dedication to driving meaningful change and innovation in the renewable energy landscape.

This strategic alliance exemplifies a shared commitment to combatting climate change and underscores the proactive approach of the involved entities toward a sustainable future. ” Kazakhstan Investment Development Fund Chief Executive Officer, Marat Tulebayev, said, “We are happy to support Masdar and W Solar as partners, alongside Qazaq Green Power, in the development of this large-scale wind project. We hope to see the successful implementation of the project according to the milestones set by the parties.

Being a state fund aimed at attracting foreign direct investment to our country, Kazakhstan Investment Development Fund is fully committed to supporting foreign investors wishing to implement projects in Kazakhstan that will contribute to our country’s development. ” This project will play an important role in strengthening co-operation between the two countries, as well as in accelerating Kazakhstan’s energy transition, and its ambitions to increase renewables capacity to 15 percent of its energy supply by 2030 (and to 50 percent by 2050), and to achieve carbon neutrality by 2060. This marks Masdar’s inaugural project in Kazakhstan, Central Asia’s largest economy.

It represents a significant investment in the country’s potential as a major clean energy producer and aligns with the UAE’s support for Kazakhstan’s ambitious climate action plans. Central Asia is a significant frontier market for Masdar. The region boasts massive potential for clean energy generation, and is particularly abundant in wind and solar resources.

Masdar will continue working closely with the Government of Kazakhstan, as well as partners in other nations in the region, to further develop its truly global portfolio of clean energy projects. Established in 2006, Masdar has developed and partnered projects in over 40 countries with a total combined electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.

(ANI/WAM).