Dubai: The Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and Électricité de France (EDF) have signed a Memorandum of Understanding (MoU) the Ministry of Energy of the Kyrgyz Republic with to investigate the development of hydropower and renewable projects with a combined capacity of up to 3.6 gigawatts (GW).
Mr. Taalaibek Ibraev, the Kyrgyz Minister of Energy, Mr. Ahmed Al Awadi, the Masdar Director of Development and Investment (EMEA), and Ms. Emmanuelle Chevennement, the EDF Assets Development Director for Europe and Central Asia, signed the agreement during COP28 in Dubai.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, COP28 President, and Chairman of Masdar, stated that, “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. 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.”
The UAE Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, Mr. Sharif Al Olama, the President of the Kyrgyz Republic, Mr. Sadyr Japarov, and Mr. Luc Remont, the Chairman and CEO of EDF, witnessed the signing ceremony.
Despite an extensive clean energy portfolio encompassing solar, floating solar, onshore wind, offshore wind, floating wind, geothermal, battery energy storage systems, and green hydrogen, the MoU represents Masdar’s first entry into the hydropower space.
The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44 percent by 2030 and achieving carbon neutrality by 2050. The country already generates around 90 percent of its electricity from clean energy resources, almost exclusively hydropower plants.