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Masdar has been taking its message of investments in renewables across key overseas markets. Image Credit: Shutterstock

Dubai: Abu Dhabi’s Masdar has made further progress in its Central Asia push, with a new agreement with the Kyrgyz Republic to explore development of renewable energy opportunities.

Masdar will thus look at the possibility of investments in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV and hydropower projects, with a potential capacity of up to 1 gigawatt (GW).

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Masdar signs Memorandum of Understanding with Kyrgyzstan to explore renewable energy opportunities.

“Masdar is ready to support Kyrgyzstan’s efforts to diversify its energy sources, cut greenhouse gas emissions and deliver carbon-free development by 2050,” said Abdulla Zayed, Head of Development and Investment, Central Asia and Russia, at Masdar. “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.”

Kyrgyzstan is targeting reducing greenhouse gas emissions by up to 44 per cent by 2030, and get to carbon neutrality by 2050. The country already generates around 90 per cent of its electricity from clean energy resources – but this is mostly from ‘aging hydropower plants’. By tapping the country’s high irradiation levels, Kyrgyzstan could enhance energy security while also managing its water resource levels, according to a statement issued.