Masdar, one of the world’s leading renewable energy companies, has begun construction on its 230-megawatt (MW) Garadagh Solar PV Plant in Azerbaijan – the nation’s first foreign investment-based independent solar power project.
Masdar also signed agreements related to the development of additional clean-energy projects across the country.
Masdar will develop the Garadagh project, located 9 km northwest of the Alat settlement. The plant is expected to start commercial operation in 2023.
The project will help generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 houses, and will reduce emissions by more than 200,000 tonnes a year, while also creating valuable jobs.
The Abu Dhabi Fund for Development (ADFD), the UAE’s leading development financing institution driving sustainable development at home and abroad, is a key finance partner for the project and is keen to support Azerbaijan further over its efforts to achieve renewable-energy goals.
The groundbreaking ceremony, held in Azerbaijan’s capital, Baku, was attended by the President of the Republic of Azerbaijan, Ilham Aliyev; the UAE Minister of Energy and Infrastructure, Suhail Al Mazrouei; and the Minister of Energy for Azerbaijan, Parviz Shahbazov. The CEO of Masdar, Mohamed Jameel Al Ramahi, led the company’s delegation at the ceremony.
The UAE’s Minister of Energy and Infrastructure, Suhail Al Mazrouei, said: “The United Arab Emirates and Azerbaijan share deep cultural and economic ties, as well as a vision for a sustainable future driven by clean energy.
“The UAE and Masdar look forward to continuing to drive foreign direct investment and supporting Azerbaijan on its ambitious clean energy journey as we explore more opportunities to further strengthen our partnership”.
The CEO of Masdar, Mohamed Jameel Al Ramahi, said: “This groundbreaking event marks a major milestone in Azerbaijan’s clean energy journey and we at Masdar are proud to be able to leverage our experience and expertise to support the nation’s energy transition.
“By diversifying its energy mix, Azerbaijan will be able to drive sustainable development and enhance energy security, while making a major contribution to climate change mitigation.”
Masdar also demonstrated its extended commitment to Azerbaijan’s renewable energy objectives, with CEO Al Ramahi signing four MoUs with different parties, all related to the development of clean energy projects in the country.
Al Ramahi added: “We look forward to building on our presence here in Azerbaijan, and helping the nation achieve its renewable energy objectives through these agreements.”
“We stand ready as an active strategic partner to Azerbaijan to provide knowledge exchange, develop local expertise and deliver lasting infrastructure improvement. Together with our local partners, we will put Azerbaijan on the path to a zero-carbon future.”
Azerbaijan is targeting increasing the proportion of its installed power capacity coming from renewable sources to 30 percent by 2030, as the country looks to diversify its economy and reduce greenhouse gas emissions.
Azerbaijan has an estimated solar energy potential of 23,040 MW, according to the International Renewable Energy Agency (IRENA).
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