UAE-owned renewable energy company Masdar has signed a Memorandum of Understanding (MoU) with Kyrgyzstan’s Ministry of Energy to explore the development of renewable energy opportunities in the Central Asian nation.
As part of the MoU, Abu Dhabi-based Masdar will explore the development of ground-mounted solar PV, floating solar and hydropower projects, with a potential capacity of up to 1GW.
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Kyrgyzstan is targeting a 44% reduction in greenhouse gas emissions by 2030, with its net zero target set at 2050. The country already generates around 90% of its electricity from clean energy resources but this is almost exclusively from aging hydropower plants, according to Masdar.
“By tapping the country’s high irradiation levels, Kyrgyzstan could enhance energy security while also managing its water resource levels, which are being diminished by climate change,” the company said.
Masdar has penned a number of renewable agreements recently. In January, it signed a memorandum of understanding (MOU) with three other energy companies to establish a partnership focused on exporting 1.2GW of electricity to Singapore and has also set up a new joint venture (JV) that will focus on developing renewable energy projects across Eastern Europe, Central Asia and Africa.