Abu Dhabi, UAE—Masdar will develop a 100 megawatt solar plant in Turkmenistan, the company’s first such project in the country.
In this regard, Masdar signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo).
The JDA signing was witnessed by Serdar Berdymukhammedov, President of Turkmenistan, and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. The agreement was signed by Masdar Chief Executive Officer Mohammed Jameel Al Ramahi and Charymurat Purchekov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, at a ceremony held at the UAE-Turkmenistan Business Forum in Abu Dhabi.
Turkmenenergo is the state authority responsible for the generation, transmission, and distribution of electricity in Turkmenistan.
Masdar, the UAE’s flagship clean energy company, and its consortium partners, Infinity Power Holding and Hassan Allam Utilities, announced about a week ago that they have signed a framework agreement with leading Egyptian state-backed organizations on the development of a 2 gigawatt (GW) green hydrogen project in the Suez Canal Economic Zone (SCZONE).
The company signed an agreement with Azerbaijan in June to develop clean and renewable energy projects in the country with a combined capacity of 4,000 MW.
The agreement builds on a Memorandum of Understanding (MoU) signed between Masdar and the Turkmenistan government in October 2021 to explore the development of and investment in solar and wind power projects in Turkmenistan on a public-private partnership (PPP) basis.
Deputy Chairman of the Cabinet of Ministers of Turkmenistan Charymurat Purchekov said, “Today, we have signed a Joint Development Agreement for a 100 MW solar power project with the world-famous Masdar company of the United Arab Emirates. We hope that this document will mark the beginning of a new stage in the development of the electric power industry of Turkmenistan through the construction of solar and wind power plants, in which this company has accumulated a large and rich experience. We thank Masdar for entering such an important agreement with us and look forward to long-term cooperation.”
Masdar Chief Executive Officer Mohammed Jameel Al Ramahi said, “As a global leader in renewable energy with many projects across Central Asia, Masdar has the right expertise and experience needed to support Turkmenistan’s development of its renewable energy sector. We welcome the signing of the JDA and hope the 100 MWac project will be the first of many Masdar projects in Turkmenistan.”
Turkmenistan is looking to modernize its energy infrastructure and reduce its dependence on hydrocarbons.
While the nation has one of the largest gas reserves in the world, it also has multiple natural advantages for developing renewable energy resources, with abundant annual sunlight levels, and strong wind currents.
The original MoU was signed in a ceremony held at the Leadership Pavilion at Expo 2020 Dubai, in the presence of Gurbanguly Berdymukhammedov, President of the Republic of Turkmenistan, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Affairs.