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ABU DHABI, 10th January, 2023 (WAM) — Masdar has announced the signing of an agreement with the Ministry of Energy of the Kyrgyz Republic to develop a series of renewable energy projects in the country.
The projects have a combined capacity of up to 1 gigawatt (GW), starting with a 200 megawatt (MW) solar photovoltaic (PV) plant.
The implementation agreement was signed by Kyrgyz Republic Energy Minister Ibraev Talebek Omukijevic and Masdar CEO Mohamed Jamal Ramahy. The 200 MW plant is scheduled to start operating in 2026.
Omukeevich said: “Today, the Kyrgyz Republic’s energy system faces the challenge of meeting the huge demand for electricity from all types of consumers using our existing resources. At the same time, Kyrgyzstan has good solar potential. The successful implementation of solar power plant projects below 1GW, It will help to ensure the energy security of our country.
“The large-scale development of renewable energy systems will also contribute to improving employment, living conditions and energy supply for the population of the Republic, reducing poverty in rural areas, increasing the level of education, and introducing new modern technologies.”
Al Ramahi said: “Masdar has extensive experience in Central Asia and we will use our expertise to support the clean energy goals of the Kyrgyz Republic. It is the first of many projects that will support the nation’s emissions reduction goals while increasing clean energy access and security.”
Kyrgyzstan wants to reduce its greenhouse gas emissions by as much as 44% by 2030 and become carbon neutral by 2050. While about 90 percent of the country’s electricity comes from clean sources, that’s almost entirely from aging hydropower plants. The country’s high solar radiation levels present an opportunity to increase access to and security of clean energy.
The implementation agreement builds on the memorandum of understanding signed by the two parties last April, in which Masdar agreed to explore renewable energy opportunities in the Kyrgyz Republic to support the country’s decarbonization goals.
Under the agreement, Masdar will explore and invest in a wide range of renewable energy projects such as ground-mounted solar PV, floating solar PV and hydropower projects.
Masdar recently announced a new shareholding structure and an increased focus on green hydrogen, making it one of the largest clean energy companies of its kind. Targeting 100 GW of renewable energy capacity and 1 million tons of green hydrogen per year by 2030, the new Masdar is a clean energy power station that will spearhead the UAE’s 2050 Net Zero Emissions Strategic Plan and drive Global energy transition.
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