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. Kazakhstan is targeting generating 15 per cent of electricity from renewable energy sources by 2030 and 50 per cent by 2050.
Additionally, a ratification of the agreement was also signed between the governments of UAE and Kazakhstan to develop 1 GW wind project. The country is developing this 1 GW wind power project along with 600 MWh BESS project. 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.
REGlobal’s Views: Masdar has set a target for 100 GW renewable energy across the globe by 2030. The company has been ramping up its renewable energy capacity through both organic and inorganic means, across the MENA region, US, Asia, and Europe. As various new renewable energy investment hotspots are emerging across the globe, the company has been expanding its portfolio across these new markets like Bahrain, Uzbekistan, Kazakhstan, Iraq and Saudi Arabia.
