November 30, 2022

UAE’s Masdar, Kyrgyzstan sign MoU to explore renewable energy opportunities

Zainab Mansoor

UAE clean energy company Masdar has signed a Memorandum of Understanding (MoU) with the Kyrgyz Republic’s Ministry of Energy.

The agreement is meant to explore the development of renewable energy opportunities in the Central Asian nation and support Kyrgyzstan’s clean-energy objectives.

Under it, Masdar will explore investments in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV and hydropower projects, with a potential capacity of up to 1 gigawatt (GW), official news agency WAM reported.

“Masdar is ready to support Kyrgyzstan’s efforts to diversify its energy sources, cut greenhouse gas emissions and deliver carbon-free development by 2050,” said Abdulla Zayed, head of development and investment, Central Asia and Russia, at Masdar. “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.”

Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44 per cent by 2030, and achieving carbon neutrality by 2050.

The country already generates around 90 per cent of its electricity from clean energy resources, but this is almost exclusively from aging hydropower plants, a statement said. By leveraging its high irradiation levels, Kyrgyzstan could enhance energy security and manage water resource levels.

Last month, Masdar announced the formal start of construction for its 230-megawatt (MW) Garadagh solar PV plant in Azerbaijan.

Read: UAE’s Masdar announces start of construction for solar PV plant in Azerbaijan

Source link