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Masadar’s New Office In Azerbaijan For Renewable Energy Development | |
| Sumita Pawar |
Masdar, one of the world’s fastest-growing renewable energy companies, has pledged to strengthen its support for Azerbaijan’s renewable energy development with the opening of an office in Baku, the capital city, according to the report.
Masdar will work closely with the government and other stakeholders in Azerbaijan to accelerate the growth of its renewable energy sector as the country continues to take bold steps to meet clean energy targets and transition to a low-carbon future.
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Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, said, "The UAE and Azerbaijan both recognise the importance of investing in renewable energy to advance economic diversification, stability, and growth."
"Masdar’s increasing scope of work in Azerbaijan, evidenced by its new Baku office, demonstrates the UAE’s commitment to supporting decarbonization and sustainable development around the world."
Murad Al Blooshi, the UAE Ambassador to Azerbaijan, commented, "The opening of Masdar’s office in Azerbaijan is a testament to the shared ambition of the UAE and Azerbaijan towards renewables and sustainability."
He added, "Our two nations are committed to working together to create a sustainable future, and the new office will play a critical role in supporting this important work."
According to Mohamed Jameel Al Ramahi, CEO of Masdar, the opening of their new office in Baku is a testament to Azerbaijan’s increasing focus on renewable energy and Masdar’s growing global portfolio, which they have pledged will reach 100 GW by 2030.
"We look forward to working with our partners in Azerbaijan to continue to deliver world-class projects in support of the country and its renewable energy goals."
Javid Abdullayev, Director of the Azerbaijan Renewable Energy Agency, said, "Developing our ample renewable energy potential is a strategic priority for Azerbaijan, and we believe that working with partners like Masdar will help us achieve our goals and create a brighter, more sustainable future for our people."
"The agreements we have signed with Masdar will play a critical role in our green growth journey, and we look forward to further collaborations," Javid Abdullayev added.
Azerbaijan plans to increase its installed power capacity to 30 percent from renewable sources by 2030 to diversify its economy and reduce greenhouse gas emissions, according to the report.
The government has targeted developing renewable energy sources as a strategic priority for the country’s development and is looking to establish Azerbaijan as a green energy producer and exporter.
As further mentioned in the report, Ilham Aliyev, President of the Republic of Azerbaijan, delivered a keynote address at Abu Dhabi Sustainability Week 2023, where he reiterated the country’s clean energy objectives and highlighted how its partnership with Masdar will help in achieving them.
At ADSW, Masdar signed joint development agreements for onshore wind and solar projects and integrated offshore wind and green hydrogen projects with a total combined capacity of 4 gigawatts (GW).
The projects are part of a larger agreement with Azerbaijan’s Ministry of Energy to develop a renewable energy programme on a bilateral basis with a total capacity of 10 GW across multiple technologies, one of the largest such signings in Azerbaijan’s history.
Masdar is also developing the 230-megawatt Garadagh Solar PV Plant in Azerbaijan.
The plant will contribute to the generation of half a billion kilowatt-hours of electricity per year, enough to power more than 110,000 homes, and will reduce emissions by more than 200,000 metric tonnes per year while also creating valuable jobs, according to the report.