Abu Dhabi Future Energy Company (Masdar) has entered into agreements for solar and onshore wind initiatives with a combined capacity of 1 gigawatt (GW) in Azerbaijan. This milestone follows the inauguration of the largest operational solar facility in the region, the 230MW Garadagh Solar Park.
The Garadagh Solar Park represents Azerbaijan’s initial independent solar power project backed by foreign investment, and it marks Masdar’s inaugural venture in the country.
These strategic accords pertain to advancing the initial stage of a 10GW portfolio of renewable energy projects in Azerbaijan, as originally agreed upon in June 2022, according to Gulf Business.
This achievement comes on the heels of the successful establishment of Garadagh, Azerbaijan’s first foreign investment-supported independent solar power project and the most extensive solar plant in the region.
COP28 President-Designate and Masdar Chairman on the Garadagh Project
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 and it’s 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.”
Speaking at the inauguration, Dr Sultan Al Jaber also commended President Ilham Aliyev and the nation of Azerbaijan for its commitment to a defined, strategic plan of action to develop new industries, new jobs and green economic growth.
Parviz Shahbazov, Azerbaijan Minister of Energy, commented: “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 1,000MW, 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 per cent by 2030.”
The first project by Masdar in Azerbaijan
The Garadagh facility marks Masdar’s inaugural project in Azerbaijan. This plant is anticipated to produce 500 million kilowatt-hours of electricity annually, sufficient to meet the energy needs of over 110,000 households and resulting in an annual reduction of more than 200,000 tonnes of carbon emissions.
Financing for this project is a collaborative effort involving the Abu Dhabi Fund for Development, the Asian Development Bank, the European Bank for Reconstruction and Development, and the Japan International Cooperation Agency.
Mohamed Jameel Al Ramahi, CEO 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.”
