Masdar and Turkmenistan government signed a Memorandum of Understanding earlier in October 2021 to delve into the prospects and development of wind and solar power projects in Turkmenistan on a public-private partnership (PPP) basis
Masdar signs Joint Development Agreement (JDA) with the Ministry of Energy of Turkmenistan (Turkmenenergo) to build up a 100-megawatt solar photovoltaic power plant that marks the leading renewable energy company’s first project in Turkmenistan with Turkmenenergo State Power Corporation. The agreement signing took place at a ceremony held at UAE Turkmenistan Business Forum in Abu Dhabi UAE and was signed by Deputy Chairman of the Cabinet of Ministers of Turkmenistan HE Charymurat Purchekov and Mohammed Jameel Al Ramahi, Masdar Chief Executive Officer.
The significant agreement signing was witnessed by the president of Turkmenistan His Excellency Serdar Berdymukhammedov, and UAE Minister of State for Foreign Trade, His Excellency Dr. Thani bin Ahmed Al Zeyoudi. Masdar and Turkmenistan government signed a Memorandum of Understanding in October 2021 to delve into the prospects and development of wind and solar power projects in Turkmenistan on a public-private partnership (PPP) basis, recorded the official statement released by Masdar.
Masdar Chief Executive Officer Mohammed Jameel Al Ramahi stated that Masdar has the required experience and expertise to strengthen Turkmenistan’s development of its renewable energy sector as the company emerges as a global leader in the same and has many projects across Central Asia. “We welcome the signing of the JDA and hope the 100 MWac project will be the first of many Masdar projects in Turkmenistan,” says Mohammed Jameel Al Ramahi.
Turkmenistan is currently on a path to reducing its dependence on hydrocarbons by developing and modernizing its energy infrastructure. The country has abundant annual sunlight levels and strong wind currents that provide multiple advantages by building up renewable energy resources. The nation is also home to one of the largest gas reserves in the world.
HE Charymurat Purchekov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan 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” and added that the document will mark the beginning of a different stage in the expansion of the electric power industry in Turkmenistan by the construction solar and wind power plants in which the company had accumulated a rich and large experience. We thank Masdar for entering such an important agreement with us and look forward to long-term cooperation, ” says HE Charymurat Purchekov.
Masdar recently signed an agreement with Hassan Allam Utilities and Infinity Power Holding to develop two green hydrogen projects in the Suez Canal Economic Zone. The agreement builds up the ties between both countries relation and emphasis the responsibility to comply with net-zero energy solutions. Masdar and Egypt’s Infinity struck another deal earlier to build one of the world’s largest wind projects, producing around 47,790 GWh of clean energy yearly and counterbalance the carbon emissions to around 23.8 million tonnes which is equivalent to 9 percent of Egypt’s current carbon dioxide emissions.
Masdar is expanding the deployment and commercialization of sustainable urban development, renewable energy, and clean technologies to address global sustainability challenges and is active in 40 countries, including the UAE, the UK, the US, Australia, Spain, Serbia, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, India, Indonesia, Uzbekistan, and many more.
The current agreement’s MoU was signed in a ceremony held at the Leadership Pavilion at Expo 2020 Dubai, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Affairs and His Excellency Gurbanguly Berdymukhammedov, President of the Republic of Turkmenistan.