Masdar, a leading renewable energy company, announced today that it has signed a Memorandum of Understanding (MoU) with the Kyrgyz Republic’s Ministry of Energy to explore renewable energy opportunities and support Kyrgyzstan’s clean-energy goals. Minister of Energy of the Kyrgyz Republic Bekmurzaev Doskul Djumagulovich and Masdar’s Head of Development and Investment for Central Asia and Russia Abdulla Zayed signed the agreement in Bishkek, the nation’s capital.
Masdar will investigate investment opportunities in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV, and hydropower. Each project has an approximate capacity of 1 gigawatt (GW). Kyrgyzstan aims to reduce greenhouse gas emissions by as much as 44 percent by 2030, and to achieve carbon neutrality by 2050.
About 90 percent of the country’s electricity is already generated by clean energy sources, but most of it is generated by aging hydropower stations. With the use of Kyrgyzstan’s high irradiation levels, the country could attain greater energy security while also managing its water resources, which are dwindling due to climate change.