Abu Dhabi Energy Circle signed an agreement on the purchase of energy with the Finnish Center for the Support of Renewable Energy for the development of a wind power project with a capacity of one gigawatt in the "Zhambyl" region of the Republic of Kazakhstan. The ceremony for signing the agreement took place at the COP29 conference in Baku, the capital of Azerbaijan, in the presence of the Deputy Minister of Energy and Oil and Gas Infrastructure of Sherif Al-Ulama and the Deputy Minister of Energy of the Republic of Kazakhstan Sungat Isatayev. The agreements were signed by the Director of Business Development and Projects at "Source" Abdullaz Zayd and the General Director of the Finnish Center for the Support of Renewable Energy Julzhan Nalibayev.
This agreement was concluded shortly after "Source" signed an agreement on investments with the Ministry of Energy of Kazakhstan for the development of a station, which will become one of the largest wind power plants in the Commonwealth of Independent States. The Chief Executive Officer of "Source" Mohammend Jamal Rahami stated that this agreement confirms the company's strong commitment to support Kazakhstan's efforts to achieve its ambitious goals in the field of clean energy, highlighting investment and strategic partnerships that "Source" has in Central Asia. This project, in his opinion, significantly expands the project portfolio and helps achieve the goal of developing renewable energy projects with a capacity of 100 gigawatts by 2030.
According to Julzhan Nalibayev, this initiative falls within the framework of the investment agreement between the Ministry of Energy of Kazakhstan and the company "Source" for the development of the station and contributes to strengthening the infrastructure of renewable energy projects in Kazakhstan, advancing the country towards a sustainable and more flexible economy.