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 3600MW.
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.
The memorandum of understanding (MoU) represents Masdar’s first entry into the hydropower space.
Dr Sultan Al Jaber, Masdar chairman, said: “At COP28 it will be incumbent on the world to utilise 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 added: “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.”
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.