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
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?