Masdar signs an agreement with Turkmenistan to develop a 100MW solar photovoltaic power plant project.
A first solar project
Masdar announces its first solar project in Turkmenistan. The company signs a Joint Development Agreement (JDA). In addition, the signing took place in the presence of President of Turkmenistan, Serdar Berdymukhammedov.
In addition, the agreement is made between the CEO of Masdar, Mohammed Jameel Al Ramahi, and the Deputy Chairman of the Cabinet of Ministers of Turkmenistan, Sharymurat Purchekov. It took place during a ceremony organized at the United Arab Emirates-Turkmenistan Business Forum in Abu Dhabi. Turkmenenergo is the authority in charge of the production, transport and distribution of electricity in Turkmenistan.
A partnership agreement
The agreement is based on a memorandum of understanding signed between Masdar and the Turkmen government dated October 2021. Its purpose was to develop and invest in solar and wind energy projects in Turkmenistan. Deputy Chairman of the Cabinet of Ministers of Turkmenistan, Sharymurat Purchekov, states:
“Today we signed a joint development agreement for a 100 MW solar power project with the renowned Masdar Company of the United Arab Emirates. We hope that this document marks the beginning of a new stage in the development of Turkmenistan’s electric power industry through the construction of solar and wind power plants, in which this company has accumulated a great and rich experience. We thank Masdar for entering into such an important agreement with us and look forward to long-term cooperation.”
Turkmenistan is seeking to modernize its energy infrastructure and reduce its dependence on hydrocarbons. Indeed, the Central Asian country has one of the largest gas reserves in the world. However, it has multiple natural advantages such as abundant annual sunshine.
