Abu Dhabi clean energy company Masdar signed a joint development agreement with Turkmenistan Energy Gogol State Power Company to develop a 100 MW solar photovoltaic power station in Central Asian countries. The Ministry of Energy of Turkmenistan, subordinate to the Ministry of Energy of Turkmenistan, is the state agency responsible for power generation, transmission and distribution in the country.

The agreement is based on the agreement signed by Masdar and Ashgabat in October 2021, which aims to explore the development and investment of solar and wind energy projects in Turkmenistan on the basis of public-private partnership. As a global leader in renewable energy, Masdar has many projects in Central Asia and has the correct expertise and experience to support the development of Turkmenistan's renewable energy sector, said Mohamed Al Ramahi, CEO of Masdar.

Masdar has more than 20 billion dollars of investment in the world, and is rapidly expanding its renewable energy portfolio as countries focus on reducing emissions to limit global warming. In 2022, the company signed a series of new agreements to explore and develop renewable energy and green hydrogen energy projects. Previously, it increased its global clean energy portfolio capacity by 40% in 2021.

Masdar aims to achieve 100 GW of renewable energy capacity in the next 10 years. In early November, it signed a preliminary agreement with the Ministry of Energy and Mineral Resources of Jordan to develop renewable energy projects in Jordan.

Charymurat Purchekov, Vice Chairman of the Cabinet of Turkmenistan, said that we hope this document will mark the beginning of a new stage in the development of Turkmenistan's power industry through the construction of solar and wind power plants, in which the company has accumulated a lot of rich experience. We thank Masdar for reaching such an important agreement with us and look forward to long-term cooperation.

Turkmenistan is seeking to modernize its energy infrastructure and reduce its dependence on hydrocarbons. Although it has one of the largest natural gas reserves in the world, it also has several natural advantages in the development of renewable energy, with sufficient sunshine and strong wind flow.Editor/Xing Wentao