Renewable Energy Masdar expands clean energy footprint in Azerbaijan By Pramod Kumar October 27, 2023, 5:58 AM Masdar Azerbaijan president Ilham Aliyev, third from right, and Sultan Ahmed Al Jaber, chairman of Masdar inaugurate 230MW Garadagh Solar Park in Azerbaijan Wind and solar projects with 1GW capacity Garadagh Solar Park launch World must triple renewable capacity, says Al Jabar Abu Dhabi state clean energy company Masdar will develop solar and onshore wind projects with a total capacity of 1 gigawatt (GW) in Azerbaijan. The decision comes after the launch of the 230 megawatt (MW) Garadagh Solar Park, the region’s largest operational solar plant, Masdar said in a statement. Agreements include the first phase of a 10GW pipeline of renewable energy projects in Azerbaijan signed in June 2022. Sultan Al Jaber, chairman of Masdar, said: “Azerbaijan’s ambition to develop low and zero-carbon solutions through renewable energy is exactly what the world needs at this time.” Masdar’s $8bn to add 10GW to Malaysia’s renewable goal Acwa Power seals $746m green energy deals Masdar takes lead as Azerbaijan sets ambitious green targets He called upon 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,” he said. While investment in renewable energy continues to grow, with a record 500GW added globally this year, Al Jaber said that the world must triple renewable energy capacity by 2030 to reach the 1.5C target. International development The Garadagh plant, Masdar’s first project in Azerbaijan, will generate half a billion kilowatt-hours of electricity each year 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, Asian Development Bank, European Bank for Reconstruction and Development and the Japan International Cooperation Agency. Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW. Its growth plan is to reach 100GW and one million tonnes of green hydrogen by 2030. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
