Abu Dhabi: Renewable energy company Masdar has signed a joint development agreement with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan to develop a 100 megawatt solar photovoltaic (PV) plant, which will be the company’s first project in the country.
The agreement builds on a Memorandum of Understanding 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.
The signing of the agreement 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 CEO Mohammed Jameel Al Ramahi and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Charymurat Purchekov in Abu Dhabi. Turkmenenergo is the state authority responsible for the generation, transmission, and distribution of electricity in Turkmenistan.
Deputy Chairman of the Cabinet of Ministers of Turkmenistan, Charymurat 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 and look forward to long-term cooperation.”
Masdar CEO said: “As a global leader in renewable energy with many projects across Central Asia, Masdar has the right expertise and experience needed to support Turkmenistan’s development of its renewable energy sector.”