Masdar has signed agreements for solar and onshore wind projects with a total capacity of 1GW in Azerbaijan, following the inauguration of the region’s largest operational solar plant, the 230MW Garadagh Solar Park
The agreements cover the progression of the first phase of a 10GW pipeline of renewable energy projects in Azerbaijan signed in June 2022. This follows the 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, aims to 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.
The 1GW clean energy agreements were signed by Masdar's CEO, Mohamed Jameel Al Ramahi, Azerbaijan's Minister of energy, Parviz Shahbazov and Minister of economy, Mikayil Jabbarov.
Also in attendance at the inauguration were HE Suhail Al Mazrouei, UAE Minister of Energy; HE Mohamed Hassan Alsuwaidi, UAE Minister of Investment and Deputy Chairman of Masdar; HE Ahmed Ali Al Sayegh, Minister of State; HE Mohammed Murad Al Blooshi, UAE Ambassador to Azerbaijan, and HE Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, and HE Elchin Bagirov, Ambassador Extraordinary and Plenipotentiary of Azerbaijan to the UAE attended.
Dr Sultan Al Jaber, COP28 president-designate and chairman of Masdar, said, “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% 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.”
Shahbazov said, "Today is marked by the achievements of the state policy of the President of Azerbaijan, which prioritises the development of renewable energy. The commissioning of the largest solar power plant based on the first foreign investment in our energy history, as well as the signing of investment agreements for the implementation of solar and wind energy projects with a capacity of 1000 MW, show that our country's green energy and green investment plans are successfully becoming a reality. Azerbaijan is pleased to realise its strategic goals as a green energy producing and exporting country with Masdar and these projects will play an important role in increasing the share of renewable energy sources in electricity generation capacity to 30% by 2030.”
Al Ramahi said, “The inauguration of Garadagh, the largest operational plant in the region, is a milestone achievement. Azerbaijan is a key strategic partner for Masdar and the signing of these additional agreements today pave the way to accelerate the scale of Azerbaijan’s clean energy vision. 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. This will lead to greater investment and international collaboration as we work together to help Azerbaijan achieve its ambitious climate goals.”