Masdar has signed a memorandum of understanding (MoU) with Kyrgyzstan’s Ministry of Energy to explore the development of renewable energy projects.
Under the MoU, Masdar is expected to explore the development of and investment in projects that has a potential capacity of up to 1 gigawatt (GW), such as ground-mounted solar photovoltaic (PV), floating solar PV, and hydropower projects.
“Masdar is ready to support Kyrgyzstan’s efforts to diversify its energy sources, cut greenhouse gas emissions and deliver carbon-free development by 2050,” Abdulla Zayed, Head of Development and Investment, Asia, at Masdar said.
“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.”
The projects are in line with the Kyrgyz Republic’s target to reduce greenhouse gas emissions by as much as 44% by 2030, and achieve carbon neutrality by 2050.
Kyrgyzstan already generates around 90% of its electricity from clean energy resources, mostly from aging hydropower plants.
Masdar noted that by tapping the country’s high irradiation levels, Kyrgyzstan could enhance its energy security, whilst managing its water resource levels.