Masdar and Samruk-Kazyna, Kazakhstan’s sovereign wealth fund inked agreement to explore the development of a 24/7 project that will provide up to 500 MW of baseload renewable energy and BESS projects with up to 2 GW capacity.
Additionally, a ratification of the agreement was also signed between the governments of UAE and Kazakhstan to develop 1 GW wind project. Kazakhstan is targeting generating 15 per cent of electricity from renewable energy sources by 2030 and 50 per cent by 2050.
Masdar signed an agreement at COP 28 with W Solar, Qazaq Green Power QGP, a Samruk-Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the 1 GW wind project.
In April 2025, Masdar inked two agreements with PT PLN, Indonesia’s state-owned electricity company for the development of floating solar power projects in Indonesia. The two companies have inked a MoU to develop a floating solar power plant at the Jatigede Dam reservoir in West Java. The solar plant is scheduled for completion in 2027.
