Masdar, an energy firm based in the United Arab Emirates, has signed a joint development agreement with Turkmenistan’s state-owned power utility Turkmenenergo to build a 100 MWac solar photovoltaic (PV) plant. A Memorandum of Understanding (MoU) between Masdar and the Turkmenistan government forms the basis for the agreement.
In accordance with the MoU, the two companies have committed to explore into public-private partnership prospects for development and investment in solar and wind generating projects. Additionally, the solar PV plant will be Masdar’s first project in Turkmenistan. The project is in line with Turkmenistan’s goal of improving its energy infrastructure and reducing its reliance on hydrocarbons.
Earlier this month, the Jordanian Ministry of Energy and Mineral Resources and Masdar agreed to a 2 GW renewable energy capacity agreement. The two parties would focus on investment and development possibilities in Jordan’s renewable energy sector under the terms of the MoU. The agreement also included the exchange of knowledge and expertise in green energy and infrastructure development, including electricity transformation, distribution and exportation.
REGlobal’s Views: Masdar has been rapidly expanding its reach and building its portfolio across the emerging but highly attractive markets in Asia and Middle East. The company has recently announced projects in a host of such markets like Turkmenistan, Uzbekistan, Jordan, Azerbaijan and others.