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UAE’s Masdar to develop renewable energy project in Kyrgyzstan

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DUBAI, Jan 10 (Reuters) – Abu Dhabi’s renewable energy company Masdar said on Tuesday it has signed an agreement with Kyrgyzstan’s energy ministry to develop a clean energy project with a capacity of 1 gigawatt (GW).

In a statement, Masdar said the project pipeline will start with a 200 MW solar photovoltaic plant, which is scheduled to start operating in 2026.

The company was established in 2006 by Mubadala, the sovereign wealth fund of the United Arab Emirates. It recently announced a new shareholding structure, in which Taqa TAQA.AD holds 43% of the shares, Mubadala retains its 33% stake, and Abu Dhabi National Oil The company ADNOC (ADNOC.UL) holds 10% of the shares. 24% share.

Under the new structure, Masdar aims to increase installed renewable energy capacity to at least 100 gigawatts by 2030, mainly wind and solar, and develop its new green hydrogen business – using renewable electricity to turn water Decompose it into hydrogen and oxygen to produce hydrogen – with an annual capacity of 1 million tons by 2030.

Kyrgyzstan wants to reduce its greenhouse gas emissions by 44% by 2030 and become carbon neutral by 2050.

The Central Asian country already generates about 90 percent of its electricity from clean sources, but almost entirely from aging hydropower plants.

Under the agreement, Masdar will explore and invest in a wide range of renewable energy projects such as ground-mounted solar photovoltaics, floating solar photovoltaics and hydropower projects, the statement said.

The UAE, which is preparing to host the COP28 climate conference next year, aims to achieve net-zero emissions by 2050.

Reporting by Maha El Dahan; Editing by Susan Fenton

Our standards: Thomson Reuters Trust Principles.

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