Masdar and EDF to Develop up to 3.6GW of Hydropower and Renewable Projects

The agreement was signed during COP28 in Dubai by Kyrgyz Minister of Energy, H.E. Taalaibek Ibraev, Masdar Director, Development and Investment (EMEA), Ahmed Al Awadi and EDF Assets Development Director for Europe and Central Asia, Emmanuelle Chevennement.

The signing ceremony was witnessed by the President of the Kyrgyz Republic, H.E. Sadyr Japarov, UAE Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, Sharif Al Olama, and EDF Chairman and Chief Executive Officer, Luc Remont.

Despite an extensive clean energy portfolio encompassing solar, floating solar, onshore wind, offshore wind, floating wind, geothermal, battery energy storage systems and green hydrogen, today's memorandum of understanding (MoU) represents Masdar's first entry into the hydropower space.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President and Masdar Chairman, said: "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."

H.E. Taalaibek Ibraev, Minister of Energy of the Kyrgyz Republic said: "This agreement serves to further strengthen the existing ties between the Kyrgyz Republic, the UAE and France. Hydropower is a very important energy source for the Kyrgyz Republic and this agreement will help our nation to strengthen its existing clean energy supply and to develop projects utilizing other renewable energy sources."

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 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 from hydropower plants.