Abu Dhabi's clean energy company Masdar has signed a power purchase agreement with Kazakhstan for its one-gigawatt wind farm in the Central Asian country, which is looking to boost the share of renewables in its energy mix.
The signing took place on the sidelines of the Cop29 climate change summit in Baku, capital of Azerbaijan, the renewable energy company said on Saturday.
The agreement comes days after Masdar signed the investment agreement for the project with Kazakhstan’s Ministry of Energy. The project is set to be one of the largest wind farms in the Commonwealth of Independent States region.
Abdulla Zayed, Masdar’s director of business and project development, and Gulzhan Nalibayeva, general director of Kazakhstan's Financial Settlement Centre for Renewable Energy Sources Support, signed the agreement.
“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 a number of countries,” said Mohamed Al Ramahi, chief executive of Masdar.
Central Asia is a key market for Masdar, which aims to grow its total renewable energy capacity to at least 100 gigawatts by 2030.
Last year, the company signed a joint development agreement with Uzbekistan’s Ministry of Energy and Ministry of Investments, Industry and Trade to develop more than two gigawatts of solar and wind projects in the country.
Masdar, which nearly doubled its clean energy capacity to 20 gigawatts in two years, has been active in Uzbekistan since 2019, with the 100-megawatt Nur Navoi solar project – the nation’s first successfully financed independent solar project.
On Friday, the company agreed to work with Socar Green, a subsidiary of Azerbaijan’s state oil company, and Saudi-listed Acwa Power to explore the development of offshore wind projects in Azerbaijan with capacity of 3.5 gigawatts.
Since its establishment in 2006, Masdar – which is jointly owned by Adnoc, Mubadala and the Abu Dhabi National Energy Company, better known as Taqa – has developed and partnered in projects in more than 40 countries.
The wind farm is Masdar’s inaugural project in Kazakhstan. It is in the south of the country and features a 600-megawatt-hour battery energy storage system.
Cop29 summit in Azerbaijan - in pictures
Masdar is the lead developer for the 1GW project, along with W Solar, Qazaq Green Power (a company of the country’s sovereign wealth fund, Samruk-Kazyna), and the Kazakhstan Investment Development Fund.
Construction of the wind farm is expected to start by the first quarter of 2026. When completed, it will provide power to approximately 300,000 homes in the south of Kazakhstan and eliminate two million tonnes of carbon dioxide emissions per year, according to Masdar.
The wind farm will support Kazakhstan’s ambitions to increase renewables capacity to 15 per cent of its energy supply by 2030, 50 per cent by 2050 and to achieve carbon neutrality by 2060.
Countries around the world are boosting investments in,renewable energy,to cut emissions and limit the rise in global temperatures.
International investment in renewable energy must triple to $1.5 trillion a year by 2030 to meet the global goal of tripling renewables. Despite record spending of $570 billion last year, current national plans are set to deliver only half of the required renewable power growth, the Abu Dhabi-based International Renewable Energy Agency said in a report last month.
To meet the global goals, installed renewable capacity needs to reach 11.2 terawatts by 2030, from the current levels of 3.9TW.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
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Courtesy: Carol Glynn, founder of Conscious Finance Coaching
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
Gulf Under 19s
Pools
A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts
Recent winners
2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College
Copa del Rey final
Sevilla v Barcelona, Saturday, 11.30pm (UAE), match on Bein Sports
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
