The JDA builds on a memorandum of understanding (MOU ) signed last October between Masdar and the Turkmenistan government.
Under the MoU, the two companies agreed to explore development and investment opportunities in solar and wind power projects on a public-private partnership basis.
The solar PV plant is also Masdar’s first project in Turkmenistan.
Masdar CEO Mohammed Jameel Al Ramahi said: “As a global leader in renewable energy with many projects across Central Asia, Masdar has the right expertise and experience needed to support Turkmenistan’s development of its renewable energy sector.
“We welcome the signing of the JDA and hope the 100MWac project will be the first of many Masdar projects in Turkmenistan.”
The project is in line with Turkmenistan’s goal to upgrade its energy infrastructure and reduce its dependence on hydrocarbons.
Turkmenistan Cabinet of Ministers deputy chairman Charymurat Purchekov said: “Today, we have signed a joint development agreement for a 100MW solar power project with the world-famous Masdar company of the United Arab Emirates.
“We hope that this document will mark the beginning of a new stage in the development of the electric power industry of Turkmenistan through the construction of solar and wind power plants, in which this company has accumulated a large and rich experience.
“We thank Masdar for entering such an important agreement with us and look forward to long-term cooperation.”
Earlier this month, Masdar signed an MoU with Jordan’s Ministry of Energy and Mineral Resources for 2GW of renewable energy capacity.