Herbert Smith Freehills has advised one of the world’s leading renewable energy companies Masdar on the landmark government agreement signed by the governments of the United Arab Emirates (UAE) and Republic of Kazakhstan. The agreement outlines a commitment to co-operate in the development of Kazakhstan’s renewables sector, including through the development of a large-scale wind power projects by Masdar with 1GW capacity.

The agreement was signed at COP28 in Dubai. His Excellency Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, oversaw the signing of the agreement.

This project will play an important role in strengthening co-operation between the two countries, as well as in accelerating Kazakhstan’s energy transition, and its ambitions to increase its renewables capacity to 15% of its energy supply by 2030 (and to 50% by 2050), and to achieve carbon neutrality by 2060.

It is Masdar’s inaugural project in Kazakhstan, Central Asia’s largest economy. It represents a significant investment in the country’s potential as a major clean energy producer and aligns with the UAE’s support for Kazakhstan’s ambitious climate action plans. The region boasts massive potential for clean energy generation, and is particularly abundant in wind and solar resources.

Established in 2006, Masdar has developed and partnered projects in over 40 countries with a total combined electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.

The team was led by partners Danila Logofet and supported by Martin Kavanagh and our CIS desk, in particular partners Olga Melo Zanelli and Olga Davydava, associates Maria Zerkalova and Yulia Turkina.