Abu Dhabi’s Masdar has announced that it will be developing new renewable energy and battery energy storage system (BESS) projects in Kazakhstan to help the central Asian republic reach its clean energy targets.
In a statement on Tuesday, Abu Dhabi's clean energy company said it has agreed to link up with Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, to explore the development of a ‘24/7’ project that will provide up to 500 megawatts of baseload renewable energy and BESS projects with up to 2 gigawatts capacity.
The two companies exchanged documents on the collaboration in the presence Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Kazakhstan President Kassym-Jomart Tokayev in Astana.
“This agreement builds on the already strong energy partnership between our two countries and will support Kazakhstan’s ambitious renewable energy objectives,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and chairman of Masdar.
“By leveraging Masdar’s expertise in renewables and battery storage technology, Kazakhstan will be able to address today’s energy needs while creating new jobs, stimulating its economy and preparing for the growing demands of tomorrow.”
Kazakhstan is aiming to generate 15 per cent of its electricity from renewable energy sources by 2030 and 50 per cent by 2050.
Masdar is currently developing a 1-gigawatt wind farm with a 600-megawatt-hour BESS in Kazakhstan. It is set to be one of the largest wind projects in the region.
It signed an agreement at Cop28 with W Solar, Qazaq Green Power QGP, a Samruk-Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the 1-gigawatt wind project.
The power purchase agreement and the investment agreement for the project were signed at Cop29 in Baku last year, with construction expected to begin in 2026.
“Kazakhstan is a key strategic partner for Masdar and today’s agreement further strengthens our presence in the country,” said Masdar chief executive Mohamed Al Ramahi.
The deal strengthens Masdar's partnership with Samruk-Kazyna. Al Ramahi said “we will continue to work closely together to support energy security, economic diversification and climate action”.
Masdar is also active in other Central Asian countries including, in Uzbekistan and Azerbaijan.
Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts.
The company, jointly owned by Taqa, Adnoc and Mubadala, is aiming for 100 gigawatts of global portfolio capacity by 2030.
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Directors: Madeline Sharafian, Domee Shi, Adrian Molina
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
The specs
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COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
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Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
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Killing of Qassem Suleimani
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
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Starring: Alec Baldwin, Diane Lane, Arnaud Viard
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Dubai Bling season three
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Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
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Gothia Cup 2025
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