New Development

Masdar and EDF to develop 3.6 GW of hydropower, renewable projects in Kyrgyz Republic

Masdar and EDF to develop 3.6 GW of hydropower, renewable projects in Kyrgyz Republic
(photo courtesy Masdar)

Abu Dhabi Future Energy Company PJSC – Masdar and EDF have signed an agreement with the Ministry of Energy of the Kyrgyz Republic to explore the development of hydropower and renewable projects with a combined capacity of up to 3.6 GW.

The agreement was signed during COP28 in Dubai.

This memorandum of understanding (MoU) represents Masdar’s first entry into the hydropower space.

“At COP28 it will be incumbent on the world to utilize all clean energy sources at its disposal to keep the ambition of limiting global temperature rises to 1.5C within reach,” said Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President and Masdar Chairman. “Hydropower is one of the oldest clean energy sources and has many positive attributes that can help a number of countries around the world achieve their climate goals and meet their net-zero targets.”

Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said: “This agreement represents a new chapter for Masdar in our clean energy journey. With over 17 years of pioneering renewable energy technologies and successfully delivering utility-scale clean energy projects, we are glad to have the opportunity to  bring the energy, passion and focus to hydropower that we have utilized for so many other renewable energy sources as we seek, in partnership with EDF, to build a successful collaboration with the Kyrgyz Republic, deepening the strong relationship between the UAE and the Kyrgyz Republic.”

The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44% by 2030 and achieving carbon neutrality by 2050. The country already generates around 90% of its electricity from clean energy resources, almost exclusively from hydropower plants.

Masdar is active in more than 40 countries and has more than 20 GW of renewable energy capacity including operational, under construction or advanced development projects in its portfolio. Masdar has invested, or committed to invest, in projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100 GW of renewable energy capacity and 1 million tonnes of annual green hydrogen production by 2030.