• Home
• /
• Business

Masdar, Kyrgyzstan ink MoU to explore renewable energy opportunities

MoU envisages development of projects with potential capacity of up to 1 gigawatt (GW)

Masdar, one of the world’s leading renewable energy companies, announced today that it has signed a Memorandum of Understanding (MoU) with the Kyrgyz Republic’s Ministry of Energy to explore the development of renewable energy opportunities in the central Asian nation and support Kyrgyzstan’s clean-energy objectives.

Bekmurzaev Doskul Djumagulovich, Minister of Energy of the Kyrgyz Republic and Abdulla Zayed, Head of Development and Investment, Central Asia and Russia, at Masdar, signed the MoU in Bishkek, the nation’s capital.

Under it, Masdar will explore the development of and investment in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV and hydropower projects, with a potential capacity of up to 1 gigawatt (GW).

“Masdar is ready to support Kyrgyzstan’s efforts to diversify its energy sources, cut greenhouse gas emissions and deliver carbon-free development by 2050. Kyrgyzstan has abundant potential to develop a wider range of clean energy resources, including solar and floating solar, which will deliver greater energy security and support better management of water resources,” said Zayed.

“Masdar has been a catalyst for energy transition in more than 40 countries around the world, and we look forward to leveraging our extensive experience in both ground-mounted PV and floating solar PV projects to drive sustainable development in Kyrgyzstan. We also welcome the opportunity to extend our presence in Central Asia, which we see as an area of strategic importance for us.”

Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44 per cent by 2030, and achieving carbon neutrality by 2050. While the country already generates around 90 per cent of its electricity from clean energy resources, this is almost exclusively from aging hydropower plants. By tapping the country’s high irradiation levels, Kyrgyzstan could enhance energy security while also managing its water resource levels, which are being diminished by climate change.

— business@khaleejtimes.com