Masdar, Samruk-Kazyna partner on renewable energy projects in Kazakhstan

Energy company Masdar has formed a partnership with Samruk-Kazyna, the sovereign wealth fund of Kazakhstan, to develop renewable energy and battery energy storage system (BESS) projects in the country.

Crown Prince of Abu Dhabi and Abu Dhabi Executive Council chairman Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, and Republic of Kazakhstan President Kassym-Jomart Tokayev witnessed the signing of a collaboration agreement between the two parties.

As part of the agreement, Masdar and Samruk-Kazyna will explore the potential for a ’24/7′ renewable energy initiative.

The planned project aims to provide up to 500MW of baseload renewable energy, in addition to BESS projects with a capacity of up to 2GW.

Construction of the project is expected to begin in 2026.

Masdar is currently engaged in the development of a 1GW wind farm in Kazakhstan, which will feature a 600 megawatt-hour (MWh) BESS.

This initiative is expected to become one of the largest wind energy projects in the area.

During the signing event, the ratification of an agreement between the governments of the United Arab Emirates and Kazakhstan for the 1GW wind project was also disclosed.

This ratification marks a significant achievement in the project’s progression towards realisation.

Kazakhstan has set a target to produce 15% of its electricity from renewable sources by 2030 and 50% by 2050.

Samruk-Kazyna CEO Nurlan Zhakupov said: “In line with President Tokayev’s objective of reaching carbon neutrality by 2060, Samruk-Kazyna is strengthening its efforts in low-carbon development, including through partnerships with leading international companies such as Masdar.

“This agreement represents a step forward toward increasing the share of renewable energy in Kazakhstan’s energy mix, using advanced technologies to support a more sustainable and resilient energy future.”

At COP28, Masdar entered into an agreement with W Solar, Qazaq Green Power QGP and the Kazakhstan Investment Development Fund to advance the 1GW wind project.

The power purchase agreement and investment agreement for the wind project were finalised at COP29 in Baku last year.

Masdar CEO Mohamed Jameel Al Ramahi said: “Kazakhstan is a key strategic partner for Masdar and today’s agreement further strengthens our presence in the country, building on the strong collaboration established through our existing 1GW wind and battery storage project in the Jambyl region.

“This agreement also strengthens our partnership with Samruk-Kazyna and we will continue to work closely together to support energy security, economic diversification and climate action.”