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Arab Masdar, one of the world's leading companies in the field of renewable energy sources, and W Solar Investment, have formed a joint venture to develop clean energy projects aimed at their implementation in the CIS countries.

The shareholder agreement establishing the JVC was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Syed Basar Shueb, Vice Chairman of Alpha Dhabi Holding, at a ceremony held recently in Masdar City.

“Having more than tripled the capacity of our renewable energy portfolio within three years, we are committed to extending our reach even further, by entering new markets and by partnering with other Abu Dhabi entities to become a global leader in clean energy. Through this JVC, we will be able to respond faster to market opportunities, extend our footprint into new geographies, and support more nations in their climate action”- said the Masdar chief.

The JVC will focus initially on the development of pre-identified projects, primarily in Africa and in the Commonwealth of Independent States (CIS) region – Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Georgia – as well as other geographies- the company's website informs.

The total capacity of these pre-identified projects is more than 8 gigawatts (GW).

In 2021, Abu Dhabi Development Fund signed an agreement with Turkmenistan on financing the construction of a hybrid solar-wind power plant with a capacity of 10 MW worth 25 million US dollars.

The tender for the construction of this power plant was won by the Turkish company Çalik Enerji.

Reference: The sun is the main source of energy on Earth, because about 173 million GW of solar energy enters our planet annually, and this is more than 10 thousand times exceeds the global energy needs.

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