Monday 26 February 2024

Masdar, EDF to develop 3.6GW Kyrgyz renewable projects

ABU DHABI, December 3, 2023

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, 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 gigawatts (GW).
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 MoU represents Masdar’s first entry into the hydropower space.
The agreement was signed during COP28 in Dubai by Kyrgyz Minister of Energy Taalaibek Ibraev, Masdar Director, Development and Investment (EMEA), Ahmed Al Awadi and EDF Assets Development Director for Europe and Central Asia, Emmanuelle Chevennement in the presence of Kyrgyz Republic President Sadyr Japarov, UAE Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, Sharif Al Olama, and EDF Chairman and CEO Luc Remont.
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.
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."
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," he stated.
Masdar CEO Mohamed Jameel Al Ramahi said this agreement represented a new chapter for Masdar in its 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 Kyrgyz Republic," he added.-TradeArabia News Service


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