MW Energy, a joint venture (JV) between Masdar and W Solar Investment, have signed an agreement with Tajikistan’s Ministry of Energy and Water Resources to explore the development of renewable energy projects in the country.
The pact was signed at the Dushanbe International Investment Forum. The JV now plans to build ground-mounted and floating solar, onshore wind and hydro-power projects. It may be noted that though Tajikistan is landlocked but has lakes, rivers and glaciers and is dependent on hydro-power, yet It has potential for other clean energy sources.
The projects will be built under a public-private partnership model, with a 500 MW capacity target for the first phase, said the firm.
Masdar CEO Mohamed Jameel Al Ramahi stated, “As Masdar and W Solar mark our entrance into the Tajikistan market, this partnership demonstrates the impressive range of utility-scale renewable energy expertise we are able to bring to the table. We look forward to supporting the Republic of Tajikistan with its renewable energy goals and harnessing the abundant power of the nation’s sun, wind and water to generate clean energy and drive sustainable development.”
Masdar targets at least 100GW renewable energy capacity and the production of up to 1 million tons of green hydrogen by 2030, with aspirations to grow its renewable energy portfolio to +200GW.