BAKU, Azerbaijan, January 18. Kyrgyzstan and the International Finance Organization (IFC) have announced a partnership on a project to develop a solar plant with a capacity of 100-150 MW, Trend reports citing the Ministry of Economy and Commerce of Kyrgyzstan.
IFC together with the Ministry of Energy and the Ministry of Economy and Commerce of Kyrgyzstan will work under the World Bank Group's Solar Scaling Program to structure a public-private partnership (PPP) to attract the experience and capital of the private sector for the construction and operation of a pilot solar photovoltaic plant.
"IFC is happy to support this pilot project and seeks to attract private investment to help develop and increase the use of renewable energy sources in Kyrgyzstan, thereby providing the population of the country with clean and sustainable electricity," the IFC's Regional Manager and Head, Transaction Advisory Group, Middle East, Central Asia, Türkiye, Afghanistan and Pakistan (MCT) region, Muneer Ferozie said.
Kyrgyzstan has untapped renewable energy resources that can be used to fulfill rising demand while diversifying the country's energy supply. Currently, Kyrgyzstan is taking action to develop its renewable energy sector in order to meet climate change targets.