11:25, 11 января 2023, Bishkek - 24.kg news agency , Baktygul OSMONALIEVA
UAE’s Masdar company confirmed that it will develop renewable energy projects in Kyrgyzstan. Reuters reports, citing the company’s press service.
In December 2022, the head of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov paid a working visit to the UAE and held a series of negotiations. The official said that an agreement was signed between the Ministry of Energy and this company for 1 gigawatt.
The pipeline of projects will start with a 200 megawatt solar photovoltaic plant, which is expected to begin operations by 2026, Masdar said in a statement.
The company, established by UAE sovereign wealth fund Mubadala in 2006, recently announced a new shareholding structure where Taqa holds a 43 percent stake, Mubadala retained its 33 percent stake and Abu Dhabi’s National Oil Company ADNOC holds a 24 percent share.
Under the new structure, Masdar has a target to grow to at least 100 GW of renewable energy capacity, mostly wind and solar, by 2030 and grow its new green hydrogen business — hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity — to an annual production capacity of up to 1 million tonnes by 2030.
Kyrgyzstan is looking to reduce its greenhouse gas emissions by 44 percent by 2030 and achieve carbon neutrality by 2050.
As Reuters notes, the republic already produces around 90 percent of its electricity from clean energy sources, but almost exclusively from aging hydropower plants. Under the agreement, Masdar will explore and invest in a wide range of renewable energy projects such as ground-mounted solar PV, floating solar PV, and hydropower projects.