Masdar, EDF ink deal with Kyrgyz government for 3.6 GW RE projects
The deal is Masdar’s first foray into hydropower energy.
Abu Dhabi Future Energy Company PJSC (Masdar) and EDF Energy have formed a joint agreement with the Ministry of Energy of the Kyrgyz Republic for the development of hydropower and renewable projects with a total capacity of 3.6 gigawatts (GW).
Signed during the COP28, the memorandum of understanding (MoU) signifies the first venture of Masdar into the hydropower energy sector.
Central Asia is one strategic market for Masdar, wherein the materialised agreements helped propel the development of solar and wind projects in the region. The agreement will further strengthen the ties between the UAE and the Kyrgyz Republic.
Within Kyrgyzstan, it has set its own goals for the reduction of greenhouse gases by over 44% by 2030 and push for carbon neutrality by 2050. Its electricity has generated over 90% from clean energy resources, mostly from hydropower plants.
“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,” H.E. Taalaibek Ibraev, Minister of Energy of the Kyrgyz Republic, stated.
Currently, Masdar has produced over $30b worth of growth plans to achieve 100 GW of renewable energy volume and 1 million tonnes of green hydrogen by 2030.