(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, April 30. TheInternational Finance Corporation (IFC) will support the use ofgeothermal energy in Kyrgyzstan for heating and cooling buildings,Trend reports.
According to Kyrgyzstan's Ministry of Economy and Commerce, theagreement was signed by the IFC, the Ministry of Economy andCommerce, and the Bishkek city hall. Initially, this initiativewill be implemented only in Bishkek, with plans for expansionacross the country in the future.
The ministry noted that this marks the beginning of an importantphase aimed at introducing innovative energy solutions inKyrgyzstan. The next step will involve identifying and implementingprojects to involve the private sector in developing the geothermalenergy sector in the country. This will create new opportunitiesfor infrastructure development projects.
The IFC plans to finance such projects, including throughattracting funding from international partners to ensure blendedfinancing, providing technical assistance, and implementinginvestment projects in the country.
Geothermal energy is considered a clean and sustainable energysource capable of providing energy supply from the Earth's naturalheat around the clock. Under suitable conditions, geothermal energycan compete with coal or natural gas. As a cleaner energy source,geothermal energy can play a crucial role in the environmentalsustainability of the energy sector.
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