Masdar enter Turkmenistan with 100-MW solar project

Nov 24, 2022 11:59 AM ET
  • Renewables firm Masdar has actually agreed to develop a 100-MW solar project in Turkmenistan in a deal that marks its access right into the Central Asian nation.
Masdar enter Turkmenistan with 100-MW solar project
Image: Masdar

A joint development agreement (JDA) was authorized between Masdar and also Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo) which is responsible for the generation as well as distribution of power in the country, the Abu Dhabi-based designer stated on Tuesday.

"Today, we have actually signed a Joint Development Agreement for a 100 MW solar energy project with the world-famous Masdar business of the United Arab Emirates. We hope that this document will mark the start of a brand-new stage in the development of the electric power market of Turkmenistan with the building and construction of solar as well as wind power plants," stated Charymurat Purchekov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan.

The bargain for the 100-MW projects complies with a Memorandum of Understanding (MoU) that Masdar and also the federal government of Turkmenistan revealed during Expo 2020 Dubai last year. Under the pact, the two sides prepare to research the development of as well as financial investment in solar and wind power projects on a public-private partnership (PPP) basis.

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