Masdar, one of the world’s leading renewable energy companies, has signed an agreement with the Kyrgyz Republic's Ministry of Energy to develop a pipeline of renewable projects in the Central Asian nation. The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt (MW) solar photovoltaic (PV) plant.
The implementation agreement was signed by Ibraev Taalaibek Omukeevich, Minister of Energy of the Kyrgyz Republic and Mohamed Jamel Al Ramahi, Chief Executive Officer of Masdar. The 200 MW plant is scheduled to begin operation by 2026.
Omukeevich said: “Today, the energy system of the Kyrgyz Republic faces challenges meeting the significant demand for electricity from all categories of consumers with our existing resources. At the same time, Kyrgyzstan has good solar energy potential. The successful implementation of projects to develop solar power plants of up to 1 GW capacity will help to ensure our nation’s energy security. The large-scale development of the renewable energy system will also help to improve employment, living conditions and energy supply for the population of the republic, reduce poverty in rural areas, and improve the level of education, as well as introduce new modern technologies.”
Considerable experience
Al Ramahi said: “Masdar has considerable experience in Central Asia and we will leverage our expertise to support the Kyrgyz Republic’s clean energy objectives. Kyrgyzstan is blessed with abundant solar resources and we see this 200 MW plant being the first of a number of projects that will support the nation’s goals on emissions reductions, while increasing clean energy access and security.”
Kyrgyzstan is looking to reduce its greenhouse gas emissions by as much as 44% by 2030 and achieve carbon neutrality by 2050. While the country already generates around 90% of its electricity from clean energy resources, this is almost exclusively from aging hydropower plants. The country’s high solar irradiation levels provide the opportunity to increase clean energy access and security.
The implementation agreement builds upon a memorandum of understanding signed by the two sides in April last year, in which Masdar agreed to explore renewable energy opportunities in the Kyrgyz Republic in support of the country’s decarbonization goals. Under the agreement, Masdar would 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 additional focus on green hydrogen, making it one of the largest clean energy companies of its kind. With a goal of achieving 100 GW renewable energy capacity and green hydrogen production of 1 million tonnes per annum annually by 2030, the new Masdar is a clean energy powerhouse that will spearhead the UAE’s Net Zero by 2050 Strategic Initiative and drive the global energy transition.-- TradeArabia News Service
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