{"id":923,"date":"2024-11-13T07:29:00","date_gmt":"2024-11-13T03:29:00","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=923"},"modified":"2024-11-13T07:29:00","modified_gmt":"2024-11-13T03:29:00","slug":"masdar-secures-investment-agreement-for-1gw-wind-farm-in-kazakhstan-at-cop29","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/news\/masdar-secures-investment-agreement-for-1gw-wind-farm-in-kazakhstan-at-cop29","title":{"rendered":"Masdar secures investment agreement for 1GW wind farm in Kazakhstan at COP29"},"content":{"rendered":"\n

Masdar<\/a>, the UAE\u2019s leading clean energy company, has signed an investment agreement to develop a 1GW wind farm<\/a> in Kazakhstan\u2019s Jambyl region.<\/p>\n\n\n\n

The deal was formalized on the sidelines of COP29 in Baku, Azerbaijan.<\/p>\n\n\n\n

The wind farm, which will also include a 600 MWh Battery Energy Storage System (BESS), is expected to power around 300,000 homes and offset approximately 2 million tonnes of CO\u2082 emissions annually. Construction is scheduled to begin by early 2026.<\/p>\n\n\n\n

Kazakhstan\u2019s government has been rapidly advancing renewable energy projects to reduce its carbon footprint, targeting 15% renewables in its energy mix by 2030, with a vision of achieving net-zero emissions by 2060.<\/p>\n\n\n\n

The agreement represents a major investment in the country\u2019s potential as a major clean energy producer and is set to be one of the largest wind farms in the Commonwealth of Independent States (CIS) region.<\/p>\n\n\n\n

\u201cProviding 1GW of emissions-free power, this project exemplifies our commitment to a sustainable future,\u201d said Kazakhstan\u2019s Energy Minister Almassadam Satkaliyev during the agreement signing, which was also attended by Deputy Prime Minister Nurlan Baibazarov, along with several UAE dignitaries.<\/p>\n\n\n\n

For the UAE, the agreement builds on its ambition to drive global climate action and increase renewable capacity, echoing the UAE Consensus set at COP28 to triple renewables by 2030.<\/p>\n\n\n\n

\u201cThis milestone highlights the UAE-Kazakhstan strategic partnership in sustainable energy development, supporting Kazakhstan\u2019s net-zero ambitions,\u201d said UAE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei.<\/p>\n\n\n\n

The project will be co-developed by W Solar, Qazaq Green Power\u2014a subsidiary of Kazakhstan\u2019s sovereign wealth fund Samruk-Kazyna\u2014and the Kazakhstan Investment Development Fund, with Masdar leading development efforts.<\/p>\n\n\n\n

It is expected to provide an essential boost to Kazakhstan\u2019s green energy transition and reduce reliance on fossil fuels, making it one of the largest wind farms in the CIS region.<\/p>\n\n\n\n

This is Masdar\u2019s inaugural project in Kazakhstan, which highlights its commitment to delivering large-scale renewable energy projects globally, according to CEO Mohamed Jameel Al Ramahi,<\/p>\n\n\n\n

\u201cOur 1GW wind farm project will further Kazakhstan\u2019s renewable goals, bringing significant benefits to the Jambyl region and beyond,\u201d Al Ramahi noted.<\/p>\n\n\n\n

Masdar, established in 2006, has a mandate to increase its renewable energy portfolio to 100GW by 2030 and is expanding its footprint globally.<\/p>\n\n\n\n

The company has been a key pillar in advancing sustainable energy solutions, aligning with the UAE\u2019s leadership role in climate action, and has ongoing projects across more than 40 countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The wind farm, which will also include a 600 MWh Battery Energy Storage System (BESS), is expected to power around 300,000 homes <\/p>\n","protected":false},"author":2,"featured_media":4423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,40,428,41,539,653],"tags":[1066,141,1067,170,301,1068,42,279],"class_list":{"0":"post-923","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-climate-change","8":"category-news","9":"category-power","10":"category-renewable-energy","11":"category-sustainability","12":"category-wind-energy","13":"tag-almassadam-satkaliyev","14":"tag-cop29","15":"tag-kazakhstan","16":"tag-masdar","17":"tag-mohamed-jameel-al-ramahi","18":"tag-nurlan-baibazarov","19":"tag-renewable-energy","20":"tag-wind-energy"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=923"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/4423"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}