Abu Dhabi Future Energy Company – Masdar, the UAE’s clean energy powerhouse, has signed a Power Purchase Agreement (PPA) with the Financial Settlement Centre for Renewable Energy Sources Support LLP for its 1GW wind farm in the Jambyl region of Kazakhstan.
The agreement was signed by Abdulla Zayed, Director, Business and Project Development of Masdar, and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP.
The signing took place on the sidelines of COP29 in Baku and was witnessed by Sungat Yessimkhanov, Vice Minister of Energy of Kazakhstan, and Sharif Al Olama, Under-Secretary for Energy & Petroleum Affairs, Ministry of Energy and Infrastructure of the United Arab Emirates.
This development comes just days after Masdar finalized the Investment Agreement for the project with Kazakhstan’s Ministry of Energy, marking the launch of what is set to become one of the largest wind farms in the Commonwealth of Independent States (CIS) region.
Mohamed Jameel Al Ramahi CEO – Masdar
“This agreement demonstrates Masdar’s long-term commitment to supporting Kazakhstan in achieving its ambitious clean energy goals. We are heavily invested in Central Asia with partnerships in several countries. This project is a major addition to our portfolio and plays an important role in ensuring we meet our target of 100 GW of renewable energy capacity by 2030. We look forward to working with Kazakhstan to develop its renewable energy capacity and advance its energy transition.”
Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, said that, “This agreement is an integral part of the Investment Agreement signed between the Ministry of Energy of Kazakhstan and Masdar. It supports further advancements in our renewable infrastructure, contributing to a greener and more resilient economy.”
The wind farm marks Masdar’s first project in Kazakhstan, the largest economy in Central Asia. Situated in the southern part of the country, it will include a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS).
Masdar is the lead developer for the 1GW project, along with W Solar, Qazaq Green Power (a Samruk-Kazyna Group company), and the Kazakhstan Investment Development Fund. Construction of the wind farm is expected to commence by the first quarter of 2026. When completed, it will provide power to approximately 300,000 homes in the south of Kazakhstan, avoiding 2 million tons of CO2e emissions per year.
