BAKU, Azerbaijan, January 14. Masdar, UAE's leading renewable energy company, has signed an agreement with the Ministry of Energy of Kyrgyzstan to develop renewable energy projects with a capacity to generate 1 gigawatt (GW), Trend reports citing Masdar's press service.
The agreement was signed by Minister of Energy of Kyrgyzstan Taalaibek Ibraev and Chief Executive Officer of Masdar Mohamed Jamel Al Ramah on January 10, 2023.
A 200-megawatt (MW) solar photovoltaic (PV) plant will be the first of several initiatives that will support the goals on emissions reductions. The plant is scheduled to begin operation by 2026.
"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 Kyrgyzstan’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 Kyrgyzstan," Ibraev said.
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 Kyrgyzstan.
According to the deal, Masdar would research and invest in a wide range of renewable energy projects such as ground-mounted solar PV, floating solar PV, and hydropower projects.