Masdar signed a Memorandum of Understanding (MoU) with the Ministry of Energy of the Kyrgyz Republic to explore opportunities for potential renewable energy development in the country. This will add to the Kyrgyz desire to facilitate its’ renewable energy development alongside providing greater energy security.
The Minister of Energy, Bekmurzaev Doskul Djumagulovich, and Masdar’s Head of Development and Investment, Central Asia and Russia, Abdulla Zayed, signed the MoU document in Bishkek. The latter states that the company will explore the development and investment in various renewable energy projects which include potential developments of both regular and floating solar power plants as well as hydropower projects. The total capacity of the projects that Masdar is capable of developing under the MoU is up to 1 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 Abdulla Zayed, Head of Development and Investment, Asia, at Masdar.
“Masdar has been a catalyst for the 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.”
The cooperation with Masdar is significant for Kyrgyzstan as it plans to reduce CO2 emissions by 44 percent by 2030 with further achieving carbon neutrality by 2050. These plans may seem very ambitious but even at the moment, 90 percent of the country’s energy is produced from clean sources. Yet, since it comes from ageing hydropower plants which also suffer from high irradiation levels, Kyrgyzstan seeks to diversify its electricity generation.