- Masdar has entered a MoU with the Energy Ministry of Kyrgyzstan to invest in renewable energy projects
- It aims to develop and invest in projects related to ground mounted PV, floating PV and hydropower plants with up to 1 GW capacity
- Masdar says this is an opportunity to extend its presence in ‘strategically important’ Central Asia region
Abu Dhabi Future Energy Company Masdar will explore the development of renewable energy technologies, including solar PV, with a combined capacity of up to 1 GW in Kyrgyzstan under a memorandum of understanding (MoU) it has signed with the country’s Ministry of Energy.
The scope of partnership will span development and investment in a range of projects including ground mounted solar PV, floating PV and hydropower projects.
“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,” said Masdar’s Head of Development and Investment, Abdulla Zayed. “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 on the list of countries Masdar’s joint venture company with W Solar Investment, MW Energy Limited will be exploring, as announced in January 2022. MW Energy will initially pick up more than 8 GW pre-identified projects with a focus on Africa and Commonwealth of Independent States (CIS), including Kyrgyzstan (see New RE Venture With 8 GW Initial Pipeline).
The Central Asian nation currently relies on aging hydropower plants to generate around 90% of its electricity. Now as it aims to manage its water resource levels impacted by climate change, it aims to reduce its GHG emissions by 44% by 2030 and achieve carbon neutrality by 2050.
According to the International Renewable Energy Agency (IRENA), at the end of 2021, Kyrgyzstan’s total renewable energy capacity was 3.684 GW, all of it from hydropower alone.