- Masdar signs JDA with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan
- With this, Masdar forays into Turkmenistan
- The focus will be to develop100 MW (MWac) solar photovoltaic plant
Renewable energy company Masdar released a statement that is has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo). As per the agreement, both the parties will focus on developing a 100 MW (MWac) solar photovoltaic plant. This marks the company’s entry and its first project in Turkmenistan.
At the signing ceremony, Deputy Chairman of the Cabinet of Ministers of Turkmenistan HE Charymurat Purchekov said, “Today, we have signed a JDA 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.”
Responding to this, 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.”
Earlier in 2021, a Memorandum of Understanding was signed between Masdar and the Turkmenistan government to explore investments and to develop solar and wind power projects on a public-private partnership basis.
In April, Masdar and Hassan Allam Utilities had joined hands to develop up to 4 GW electrolyzer capacity in Egypt by 2030 (see Masdar Eying Green Hydrogen Potential In Egypt)