UAE-based renewable energy company Masdar and Kyrgyz Republic’s Ministry of Energy have signed a memorandum of understanding (MoU) to explore up to 1GW of renewable energy opportunities in Kyrgyzstan.

The agreement was signed in Bishkek by Kyrgyz Republic Minister of Energy Bekmurzaev Doskul Djumagulovich and Masdar Central Asia and Russia Development and Investment head Abdulla Zayed.

Zayed said: “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.

“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.”

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By GlobalData

Under the agreement, Masdar plans to explore and invest in wide range of renewable energy projects such as ground-mounted solar photovoltaic (PV), floating solar PV and hydropower projects.

The move is expected to support Kyrgyzstan’s clean-energy objectives. 

Kyrgyzstan has set a target to cut 44% of its greenhouse gas emissions by the end of this decade, and achieve carbon neutrality by 2050.

The country currently generates 90% of its energy from renewable energy resources, especially from its aging hydropower plants.

With new solar facilities, the country aims to further enhance its energy security, while managing its available water resource levels.  In January this year, Masdar signed MoU with Japanese firm Cosmo Energy Holdings to explore renewable energy development opportunities in Japan, particularly offshore wind projects.