Masdar has signed a memorandum of understanding with the Kyrgyz Republic to explore the development of renewable energy opportunities in the Central Asian country.

The agreement with the Ministry of Energy will see Masdar explore investments in ground-mounted solar, floating solar and hydropower projects, among others, with a potential capacity of up to 1GW.

Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44% by 2030 and achieving carbon neutrality by 2050.

The country currently generates around 90% of its electricity almost exclusively from hydropower plants, which are now ageing.

Abdulla Zayed, Head of Development and Investment, Asia at Masdar said: “Masdar is ready to support Kyrgyzstan’s efforts to diversify its energy sources, cut greenhouse gas emissions and deliver carbon-free development by 2050. Kyrgyzstan has abundant potential to develop a wider range of clean energy resources, including solar and floating solar, which will deliver greater energy security and support better management of water resources.

“Masdar has been a catalyst for energy transition in more than 40 countries around the world and we look forward to leveraging our extensive experience in both ground-mounted PV and floating solar PV projects to drive sustainable development in Kyrgyzstan. We also welcome the opportunity to extend our presence in Central Asia, which we see as an area of strategic importance for us.”