Masdar has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo) for the company’s first project in the country
UAE’s state-owned renewable energy company Masdar is set to develop a 100MWac solar photovoltaic (PV) plant in Turkmenistan.
Masdar has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo) for the company’s first project in the country.
Turkmenenergo is Turkmenistan’s state authority responsible for the generation, transmission, and distribution of electricity in the country.
The JDA follows a Memorandum of Understanding (MoU) between Masdar and the Turkmenistan government signed in October last year.
Under the MoU, the companies agreed to develop and invest in solar and wind power projects in Turkmenistan on a public-private partnership (PPP) basis.
Turkmenistan Cabinet of Ministers Deputy Chairman Charymurat Purchekov said: “Today, we have signed a Joint Development Agreement for a 100MW 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.”
According to Masdar, Turkmenistan is exploring ways to revamp its energy infrastructure and reduce its dependence on hydrocarbons.
The country has one of the largest gas reserves in the world, with several natural advantages such as abundant sunlight, and strong wind currents, for the development of renewable energy.
Last week, Masdar has signed an MoU with Jordan’s Ministry of Energy and Mineral Resources to explore collaboration in renewable energy projects totalling up to 2GW.
Earlier this month, the company signed agreements for developing a 2GW green hydrogen project in the Suez Canal Economic Zone (SCZONE), and the other for a 10GW onshore wind project in Egypt.
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 100MWac project will be the first of many Masdar projects in Turkmenistan.”