Abu Dhabi-based renewable energy giant Masdar will make an entry into the central Asian country of Turkmenistan for the first time after signing a joint development agreement (JDA) with the government to develop a 100 megawatt (MWac) solar photovoltaic (PV) plant.
The agreement was signed with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan in the presence of Serdar Berdymukhammedov, the country’s President. Turkmenenergo is responsible for the generation, transmission, and distribution of electricity in Turkmenistan.
Turkmenistan is looking to modernise 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.
Charymurat Purchekov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, said: “We hope that this signing 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.”
Mohammed Jameel Al Ramahi, Chief Executive Officer, Masdar, added: “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 hope the 100 MWac project will be the first of many Masdar projects in Turkmenistan.”
This builds on the original Memorandum of Understanding (MoU) signed between Masdar and the Turkmenistan government in a ceremony held during Expo 2020 Dubai. Both parties had pledged to explore the development of and investment in solar and wind power projects in Turkmenistan on a public-private partnership (PPP) basis.
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