UAE based lean energy firm Masdar has sealed agreements for solar and onshore wind projects in Azerbaijan. These agreements boast a total capacity of 1 GW.
The agreements were preceded by the launch of the 230 MW Garadagh Solar Park, which is the largest operational solar plant in the area. It also is Azerbaijan’s maiden foreign investment-based independent solar power project.
The agreements are currently in the initial stage and promise a 10 GW renewable energy project pipeline in Azerbaijan. The agreements were signed for the capacity in June last year.
The signatories of the 1 GW clean energy agreements were Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi, and Azerbaijan’s Minister of Energy, Parviz Shahbazov. Mikayil Jabbarov, Azerbaijan’s Minister of the Economy also marked his presence.
Dr Sultan Al Jaber, COP28 President-Designate and Chairman of Masdar, stated, “Garadagh is a testament to our shared commitment to diversifying the global energy mix. Azerbaijan’s ambition to develop low and zero-carbon solutions through renewable energy, is exactly what the world needs at this time. The UAE is proud to support Azerbaijan’s clean energy goals, to generate more than 30 percent of its overall energy capacity from renewables by 2030. We need all nations of the world to set out clear energy transition plans with clear targets for renewable energy capacity. As the UAE prepares to host COP28 in November, our North Star for climate action must be to keep the ambition of limiting global temperatures to 1.5C within reach.”
