+
UAE’s Masdar Signs Investment Agreement for 1 GW Wind Project
POWER & RENEWABLE ENERGY

UAE’s Masdar Signs Investment Agreement for 1 GW Wind Project

UAE-based renewable energy company Masdar has signed an investment agreement with its partners to develop a 1 GW wind energy project in Kazakhstan’s Jambyl region. The project will include a 600 MWh Battery Energy Storage System (BESS). Construction is scheduled to begin by early 2026. The investment agreement was signed between W Solar, Qazaq Green Power—a subsidiary of Kazakhstan’s sovereign wealth fund Samruk-Kazyna—and the Kazakhstan Investment Development Fund on the sidelines of the ongoing COP29 in Baku, Azerbaijan. The project, for which the first agreement was signed in January 2023, is expected to power around 300,000 homes and offset about 2 million tons of carbon emissions annually. Kazakhstan’s government has been 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. The agreement represents a major investment in the country’s potential as a major clean energy producer. The project is set to be one of the largest wind farms in the Commonwealth of Independent States region. The wind project is Masdar’s inaugural project in Kazakhstan, which highlights its commitment to delivering large-scale renewable energy projects globally. Established in 2006, Masdar aims to have a renewable energy portfolio of 100 GW by 2030 and is expanding its global footprint. It has projects in over 40 countries. Last December, Masdar and Taaleri Energia, a Finland-based renewable energy developer, acquired eight hybrid renewable energy projects in Poland with a combined capacity of 1 GW from Domrel Biuro Us?ug Inwestycyjnych. Last year, Masdar signed an agreement with Dubai Electricity and Water Authority to construct and operate the sixth phase of the 1.8 GW Mohammed bin Rashid Al Maktoum Solar Park. The project will cost approximately AED5.51 billion

UAE-based renewable energy company Masdar has signed an investment agreement with its partners to develop a 1 GW wind energy project in Kazakhstan’s Jambyl region. The project will include a 600 MWh Battery Energy Storage System (BESS). Construction is scheduled to begin by early 2026. The investment agreement was signed between W Solar, Qazaq Green Power—a subsidiary of Kazakhstan’s sovereign wealth fund Samruk-Kazyna—and the Kazakhstan Investment Development Fund on the sidelines of the ongoing COP29 in Baku, Azerbaijan. The project, for which the first agreement was signed in January 2023, is expected to power around 300,000 homes and offset about 2 million tons of carbon emissions annually. Kazakhstan’s government has been 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. The agreement represents a major investment in the country’s potential as a major clean energy producer. The project is set to be one of the largest wind farms in the Commonwealth of Independent States region. The wind project is Masdar’s inaugural project in Kazakhstan, which highlights its commitment to delivering large-scale renewable energy projects globally. Established in 2006, Masdar aims to have a renewable energy portfolio of 100 GW by 2030 and is expanding its global footprint. It has projects in over 40 countries. Last December, Masdar and Taaleri Energia, a Finland-based renewable energy developer, acquired eight hybrid renewable energy projects in Poland with a combined capacity of 1 GW from Domrel Biuro Us?ug Inwestycyjnych. Last year, Masdar signed an agreement with Dubai Electricity and Water Authority to construct and operate the sixth phase of the 1.8 GW Mohammed bin Rashid Al Maktoum Solar Park. The project will cost approximately AED5.51 billion

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?