{"id":87051,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-ad-ports-ink-agreements-at-cop\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"masdar-ad-ports-ink-agreements-at-cop","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/04\/masdar-ad-ports-ink-agreements-at-cop\/","title":{"rendered":"Masdar, AD Ports ink agreements at COP"},"content":{"rendered":"

Masdar and AD Ports signed a host of agreements on the sidelines of COP28 over the weekend<\/strong>, including renewable energy and logistics projects in Kazakhstan, Malaysia, Angola, Germany, and Greece. <\/p>\n

Masdar officially enters Kazakhstan\u2019s market:<\/strong> Clean energy giant Masdar<\/a> inked a joint development agreement at COP28 to develop a 1 GW wind power project in Kazakhstan alongside W Solar, Qazaq Green Power QGP<\/a>, and the Kazakhstan Investment Development Fund<\/a>, according to a press release<\/a> out on Saturday. The agreement builds on a previous MoU signed in January<\/a>, anticipating that the initial phase of the project will generate 500 MW of clean energy. The financial details and deployment timeline were not disclosed. <\/p>\n

More renewables in Malaysia + Indonesia:<\/strong> Masdar signed an implementation roadmap<\/a> with Malaysia to proceed with the development of 10 GW worth of clean energy projects including round-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems, according to Wam<\/a>. The company also signed an agreement<\/a> with Indonesia\u2019s state-owned PLN to proceed with plans to add up to 500 MW capacity to its Cirata 145 MW floating solar plant<\/a> in Indonesia and to explore green hydrogen projects. <\/p>\n

And made moves in Angola: <\/strong>Masdar also signed an agreement with Angola\u2019s Energy and Water Ministry to develop a 150 MW onshore solar power plant in the Hulia province of the African country, Wam<\/a> reported on Saturday. The financial details of the agreement and a timeline for the project was not disclosed. Once operational, the project is set to offset 224k tons of CO2 annually and provide enough clean power to some 90k households in Angola.<\/p>\n

Further north: The company is also widening its presence in the UK:<\/strong> Masdar signed an agreement with German energy company RWE to purchase 49% of RWE\u2019s 3 GW Dogger Bank South offshore wind farms as part of its larger GBP 11 bn investment ticket into UK renewables, Wam<\/a> reported on Friday. The acquisition will pave the way for Masdar and RWE to jointly co-develop the two offshore wind farms with construction starting as early as 2025, according to a RWE statement<\/a>. The first 800 MW of electricity is planned to come online in 2029 with the aim to fully commission the projects by late 2031, the statement added. Closing of the agreement is subject to customary approvals and expected in 1Q 2024, Wam notes. <\/p>\n

\n

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AD Ports is setting up a JV with Kazakhstan Railways to develop a regional <\/strong>logistics hub in Kazakhstan<\/strong>, with AD Ports Group<\/a> holding a 51% stake in the JV and Kazakhstan Railways<\/a> taking the remainder, according to a press release<\/a>. <\/p>\n

Kazakhstan will also get a shipyard: <\/strong>ADP and Kazakhstan\u2019s state-owned oil and gas company KazMunayGas<\/a> (KMG) inked an MoU to develop a maritime construction and repair facility in the Mangistau region, according to a press release<\/a>. The shipyard is expected to expand the role of Caspian Integrated Maritime Solutions (CIMS) \u2014 a JV between ADP and KMG to facilitate the transportation of oil on the Caspian and Black seas by supporting CIMS\u2019 fleet, and expanding client services to third parties. <\/p>\n

There\u2019s always room for AI:<\/strong> On the sidelines of COP28, ADX-listed AI company Presight AI<\/a>Holdings<\/a> formed a JV with Kazakhstan\u2019s sovereign wealth fund Samruk-Kazyna<\/a> to utilize Presight\u2019s big data in Kazakhstan\u2019s energy, public services, and transport sectors, a bourse filing<\/a> reads. Both companies will also explore the capacity for high performance computing (HPC) and the development of advanced AI tools. <\/p>\n

MEANWHILE- AD Ports and the <\/strong>Vietnamese transport ministry inked an MoU to boost commercial expansion in various logistics-related sectors<\/strong>, according to a press release<\/a>. The companies will work on developing and managing dry ports, inland container depots, advanced logistics, and digital solutions, while also exploring future projects in economic cities and free zones, the statement reads. <\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements cover renewable energy, logistics, and AI<\/p>\n","protected":false},"author":1,"featured_media":87052,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[21,7,25,278,171,345],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-ad-ports","tag-enterpriseam-uae","tag-investment-watch","tag-kazakhstan","tag-masdar","tag-presight-holdings","wpautop","entry"],"acf":{"mongo_id":"11394130-ef51-4b3b-a3c0-cb505b22b189","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/49.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Masdar, AD Ports sign contracts with Germany, Kazakhstan, Uzbekistan, Vietnam at COP28","related_issue":[87041],"teaser":"The agreements cover renewable energy, logistics, and AI","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.553ed582-3178-4fc1-a3fd-4073a62ab219.mp3"},"yoast_head":"\nMasdar, AD Ports ink agreements at COP - 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