Abu Dhabi-based Masdar, one of the world’s leading renewable energy companies, has signed a memorandum of understanding with the Ministry of Energy of the Kyrgyz Republic to explore renewable energy opportunities in the Central Asian country and support its clean energy goals, as well as building hybrid wind and solar electric systems.
Under the agreement signed in Bishkek, Masdar will explore developing and investing in a range of renewable energy projects, including ground-based solar PV, floating solar PV and hydropower plants with a potential capacity of up to 1 gigawatt, TradeArabia reported.
While Kyrgyzstan already generates about 90% of its electricity from clean energy resources, this is almost exclusively from aging hydroelectric power plants.
Abdullah Zayed, Head of Development and Investment for Central Asia and Russia, Masdar, noted that the company has become a catalyst for the energy transition in more than 40 countries worldwide.
“We also welcome the opportunity to expand our presence in Central Asia, which we view as a region of strategic importance to us,” he added.
Earlier, in July 2021, Masdar signed an investment agreement with Uzbekistan for the design, financing and construction of two 220 MW photovoltaic power plants, for which it will allocate $300 million, also meant for hybrid wind and solar electric systems.
The construction of the first hybrid solar-wind power plant with a capacity of 10 MW in Turkmenistan will be invested by the Abu Dhabi Development Fund (UAE).
The object will be built by the Turkish company Çalik Enerji in the Serdar district of the Balkan region. The project was developed at the State Energy Institute of Turkmenistan.