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April 18, 2022

Masdar to develop up to 1GW of renewable projects in Kyrgyzstan

The company plans to invest in ground-mounted solar, floating solar and hydropower projects.

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.

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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.”

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.

Related Companies

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What's the outlook for low carbon hydrogen?

The development of the hydrogen economy will support the fulfilment of decarbonization objectives, particularly for those sectors that are difficult to electrify, such as heavy industry, long-distance trucking, shipping, and aviation. GlobalData's Hydrogen Service tracks investment in the hydrogen sector, and provides you with:
  • A complete dataset of the low-carbon hydrogen projects across the globe.
  • Latest news across the hydrogen value chain.
  • Quarterly market analysis, with details of new projects, company activity and financial deals.
For more information, and to download sample pages from our quarterly market analysis, including a summary of the active and upcoming low-carbon hydrogen capacity by region, please enter your details.
by GlobalData
Enter your details here to receive your free Whitepaper.

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