Masdar, a UAE-based energy company, has signed an agreement with Kyrgyzstan’s Ministry of Energy to establish a 1 GW renewable energy project pipeline in the region. A 200 MW solar photovoltaic (PV) facility with the capacity will be the first project the company develops, and it will be online in 2026. The MoU that the two sides signed in April 2022 serves as the foundation for the deal.
In accordance with the MoU, Masdar agreed to investigate and make investments in a variety of renewable energy projects, including ground-mounted solar PV, floating solar PV and hydropower projects. As a result of the agreement, Kyrgyzstan will be able to achieve its decarbonization objectives, which include cutting greenhouse gas emissions by up to 44 per cent by 2030 and becoming carbon neutral by 2050.
In November 2022, Masdar signed a joint development agreement with Turkmenistan’s state-owned power utility Turkmenenergo to build a 100 MWac solar photovoltaic (PV) plant. A MoU between Masdar and the Turkmenistan government formed the basis for the agreement.