UAE government-owned Masdar has signed a Memorandum of Understanding (MoU) with Kyrgyzstan’s Ministry of Energy to explore the development of renewable energy opportunities, including floating solar and hydropower, as well as onshore solar PV projects.
Under the agreement, the parties will explore opportunities in the Central Asian nation for projects with a potential capacity of up to 1GW, as well as support work towards supporting Kyrgyzstan’s clean energy objectives.
According to Masdar, the deal is also an opportunity for expanding its presence in Central Asia, an area that is of strategic importance for the company.
His Excellency 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 the capital city Bishkek.
“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,” Zayed, stated.
Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44% by 2030 and achieving carbon neutrality by 2050.
Masdar added that although this Central Asian country already generates around 90% of its electricity from clean energy resources, this is almost exclusively from aging hydropower plants.
By tapping its high irradiation levels, Kyrgyzstan could enhance energy security while also managing its water resource levels, which are being diminished by climate change, the UAE company concluded.
In August last year, Masdar, in a joint venture with Indonesia’s state-owned power company PT PLN, kicked off the construction of a 145MW floating solar project in Indonesia following financial close.
The plant, set to be the largest of its kind in Southeast Asia and one of the largest in the world, is being built on the Cirata reservoir in the West Java Province. Commercial operation is expected in the fourth quarter of this year.
A few months later, the Abu Dhabi-based company signed an MoU with Pertamina to jointly explore the development of floating and solar power plants and clean energy solutions in Indonesia.
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