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Abu Dhabi's Masdar enters Turkmenistan with 100 MW solar PV agreement

New joint development agreement builds on Masdar-Turkmenistan MoU for development of renewable energy projects

Masdar has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo), to develop a 100 megawatt (MWac) solar photovoltaic (PV) plant, which will be the company’s first project in Turkmenistan.

The signing was witnessed by Serdar Berdymukhammedov, President of Turkmenistan, and Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade. The agreement was signed by Masdar chief executive officer Mohammed Jameel Al Ramahi and deputy chairman of the cabinet of ministers of Turkmenistan Charymurat Purchekov at a ceremony held at the UAE-Turkmenistan Business Forum in Abu Dhabi. Turkmenenergo is the state authority responsible for the generation, transmission, and distribution of electricity in Turkmenistan.

The agreement builds on a Memorandum of Understanding (MoU) signed between Masdar and the Turkmenistan government in October 2021 to explore the development of and investment in solar and wind power projects in Turkmenistan on a public-private partnership (PPP) basis.

Purchekov said: “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.”

Al Ramahi said: “Masdar has the right expertise and experience needed to support Turkmenistan’s development of its renewable energy sector. We hope the project will be the first of many Masdar projects in Turkmenistan.”

Turkmenistan is looking to modernise its energy infrastructure and reduce its dependence on hydrocarbons. While the nation has one of the largest gas reserves in the world, it also has multiple natural advantages for developing renewable energy resources, with abundant annual sunlight levels, and strong wind currents.