Renewable power firm Masdar and Samruk-Kazyna, the sovereign wealth fund of the Republic of Kazakhstan, have signed a strategic settlement to discover renewable power alternatives in Kazakhstan and help the nation’s clean-energy targets.

The two corporations signed a Memorandum of Understanding (MoU) to discover the joint growth of renewable power initiatives, and the potential institution of a three way partnership.

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“As a world chief in renewable power initiatives, lively in additional than 30 international locations, Masdar is well-positioned to assist the Republic of Kazakhstan obtain its clear power targets,” mentioned Mohamed Jameel Al Ramahi, CEO of Masdar. “We sit up for collaborating with Samruk-Kazyna on growing renewable power initiatives within the nation. We additionally welcome the chance to increase our presence in Central Asia, which we see as an space of strategic significance for us.”

Akhmetzhan Yessimov, CEO of Samruk-Kazyna, mentioned: “Samruk-Kazyna JSC goes by way of the method of transformation into an funding holding. We are striving in direction of Mubadala’s operational mannequin. This additionally applies to worldwide investments.”

Samruk-Kazyna has a portfolio of enterprises throughout industries, together with corporations within the electrical energy technology and distribution sectors. The authorities of Kazakhstan has dedicated to growing the share of renewable power in home electrical energy technology to 10% by 2030 and 50% by 2050.

The settlement was signed at a ceremony held at Emirates Palace Hotel in Abu Dhabi within the presence of Mohamed Jameel Al Ramahi, CEO of Masdar, and Akhmetzhan Yessimov, CEO of Samruk-Kazyna.

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The put up Masdar to discover renewables alternatives in Kazakhstan appeared first on Power Engineering International.

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