UAE’s Masdar signs 1 GW solar and wind energy deals in Azerbaijan
This follows inauguration of the 230 MW Garadagh Solar Park, Azerbaijan’s largest operational solar plant.
Image for illustration purposes.
UAE/Azerbaijan: This follows inauguration of the 230 MW Garadagh Solar Park, Azerbaijan’s largest operational solar plant.
Masdar has signed agreements for solar and onshore wind projects with a total capacity of 1 GW in Azerbaijan, the company said in a statement. The announcement was made following the inauguration of the 230 MW Garadagh Solar Park, Azerbaijan’s largest operational solar plant.
The strategic agreements cover the progression of the first phase of a 10 GW pipeline of renewable energy projects in Azerbaijan signed in June 2022. This follows the successful development of Garadagh, Azerbaijan’s first foreign investment-based independent solar power project, and the largest solar plant in the region.
The Garadagh plant which represents Masdar’s first project in the country, will generate half a billion kilowatt-hours of electricity each year, enough to power more than 110,000 homes, reducing carbon emissions by over 200,000 tonnes a year. The project is co-financed by Abu Dhabi Fund for Development, the Asian Development Bank, the European Bank for Reconstruction and Development and Japan International Cooperation Agency.
“Azerbaijan is a key strategic partner for Masdar. Garadagh is the first in a number of potential projects to develop onshore wind, offshore wind, solar and green hydrogen with a total combined capacity of 10GW,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
As the UAE’s clean energy powerhouse and one of the leading clean energy companies in the world, Masdar is accelerating the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges.
Source: Utilities Middle East
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