Masdar steps into Turkmenistan with 100-MW solar project

Renewables company Masdar has agreed to develop a 100-MW solar project in Turkmenistan in a pact that marks its entry into the Central Asian country.

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

"Today, we have signed a Joint Development Agreement for a 100 MW solar power project with the world-famous Masdar company of the United Arab Emirates. 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," said Charymurat Purchekov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan.

The deal for the 100-MW projects follows a Memorandum of Understanding (MoU) that Masdar and the government of Turkmenistan unveiled during Expo 2020 Dubai last year. Under the pact, the two sides plan to study the development of and investment in solar and wind power projects on a public-private partnership (PPP) basis.

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