1.5GW! Molin Energy to Launch PV Plant in Kyrgyzstan with Local Support

PVTIME – On 19th August 2023, at the Asia-Europe Merchandise Trade Fair (ASEM) 2023 held in China, Molin Energy Company Limited (Molin Energy) and National Electric Grid of Kyrgyzstan signed a Cooperation Agreement to build Solar Power Plants in the Kyrgyz Republic, with a total capacity of 1,500 megawatts (MW).

The agreement involves Molin Energy developing and investing in the construction of 1.5GW of ground-mounted photovoltaic power plants in Kyrgyzstan over the next three years. The Kyrgyzstan Government plans to offer Molin Energy various types of support through the Ministry of Energy, the Green Energy Fund and the State Grid Company. This assistance will comprise licences for constructing the projects, obtaining grid access, subsidies for electricity and capital acquisition, as well as project financing.

The 1.5GW photovoltaic plant project will be executed in phases, aiming to complete the whole project’s investment, construction and implementation within three years with an overall estimated investment of US$1.2 billion. The first phase of the project has been launched recently on a 700-hectare site where Molin Energy won the right to utilize it via a public bid. It is anticipated that the whole project will generate around 4.3 billion kWh of electricity in its first year, leading to a reduction of roughly 1.04 million tonnes of standard coal consumption and the prevention of approximately 1.95 million tonnes of carbon dioxide emissions. Upon completion and operation of the project, the energy supply structure of Kyrgyzstan will be significantly improved, aiding in the resolution of the country’s power supply scarcity issue.

The project is anticipated to source principal equipment and materials, such as photovoltaic modules, inverters, trackers, and cables, from leading Chinese manufacturers with an estimated import and export trade value of US$1 billion. This will be the most significant solar power plant project in Kyrgyzstan and the largest of its kind in Central Asia. It will become a prime example of economic cooperation between China and Kyrgyzstan as part of the Belt and Road Initiative.

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