Abu Dhabi's clean energy company Masdar has signed a power purchase agreement with Kazakhstan for its one-gigawatt wind farm in the Central Asian country, which is looking to boost the share of renewables in its energy mix.
The signing took place on the sidelines of the Cop29 climate change summit in Baku, capital of Azerbaijan, the renewable energy company said on Saturday.
The agreement comes days after Masdar signed the investment agreement for the project with Kazakhstan’s Ministry of Energy. The project is set to be one of the largest wind farms in the Commonwealth of Independent States region.
Abdulla Zayed, Masdar’s director of business and project development, and Gulzhan Nalibayeva, general director of Kazakhstan's Financial Settlement Centre for Renewable Energy Sources Support, signed the agreement.
“This agreement demonstrates Masdar’s long-term commitment to supporting Kazakhstan in achieving its ambitious clean energy goals. We are heavily invested in Central Asia with partnerships in a number of countries,” said Mohamed Al Ramahi, chief executive of Masdar.
Central Asia is a key market for Masdar, which aims to grow its total renewable energy capacity to at least 100 gigawatts by 2030.
Last year, the company signed a joint development agreement with Uzbekistan’s Ministry of Energy and Ministry of Investments, Industry and Trade to develop more than two gigawatts of solar and wind projects in the country.
Masdar, which nearly doubled its clean energy capacity to 20 gigawatts in two years, has been active in Uzbekistan since 2019, with the 100-megawatt Nur Navoi solar project – the nation’s first successfully financed independent solar project.
On Friday, the company agreed to work with Socar Green, a subsidiary of Azerbaijan’s state oil company, and Saudi-listed Acwa Power to explore the development of offshore wind projects in Azerbaijan with capacity of 3.5 gigawatts.
Since its establishment in 2006, Masdar – which is jointly owned by Adnoc, Mubadala and the Abu Dhabi National Energy Company, better known as Taqa – has developed and partnered in projects in more than 40 countries.
The wind farm is Masdar’s inaugural project in Kazakhstan. It is in the south of the country and features a 600-megawatt-hour battery energy storage system.
Cop29 summit in Azerbaijan - in pictures
Masdar is the lead developer for the 1GW project, along with W Solar, Qazaq Green Power (a company of the country’s sovereign wealth fund, Samruk-Kazyna), and the Kazakhstan Investment Development Fund.
Construction of the wind farm is expected to start by the first quarter of 2026. When completed, it will provide power to approximately 300,000 homes in the south of Kazakhstan and eliminate two million tonnes of carbon dioxide emissions per year, according to Masdar.
The wind farm will support Kazakhstan’s ambitions to increase renewables capacity to 15 per cent of its energy supply by 2030, 50 per cent by 2050 and to achieve carbon neutrality by 2060.
Countries around the world are boosting investments in,renewable energy,to cut emissions and limit the rise in global temperatures.
International investment in renewable energy must triple to $1.5 trillion a year by 2030 to meet the global goal of tripling renewables. Despite record spending of $570 billion last year, current national plans are set to deliver only half of the required renewable power growth, the Abu Dhabi-based International Renewable Energy Agency said in a report last month.
To meet the global goals, installed renewable capacity needs to reach 11.2 terawatts by 2030, from the current levels of 3.9TW.
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Dooda%20Solutions%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Lebanon%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENada%20Ghanem%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20AgriTech%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%24300%2C000%20in%20equity-free%20funding%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2011%3C%2Fp%3E%0A
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Belong%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Michael%20Askew%20and%20Matthew%20Gaziano%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Technology%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%243.5%20million%20from%20crowd%20funding%20and%20angel%20investors%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
BIO
Favourite holiday destination: Turkey - because the government look after animals so well there.
Favourite film: I love scary movies. I have so many favourites but The Ring stands out.
Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.
Favourite colour: Black.
Favourite music: Hard rock. I actually also perform as a rock DJ in Dubai.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
