Masdar has signed Azerbaijan’s largest ever agreements to build clean energy projects, according to a statement from the United Arab Emirates’ renewable energy developer.
The agreement includes the rights to develop with a combined capacity of 4,000 megawatts (MW) in an initial phase and an additional 6,000 MW as a second phase, bringing the total production capacity of these projects to 10,000 MW, according to the statement, which was released following a meeting in Baku, Azerbaijan.
Masdar signed two implementation agreements. The first relates to the development of onshore wind projects with a capacity of 1,000 MW, and 1,000 MW of solar photovoltaic (PV) projects. The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000 MW.
The UAE and Azerbaijan have long histories as oil and natural gas producers and exporters. Azerbaijan, historically, one of the world’s first crude producers, and the origin of the world’s first seagoing oil tanker, is seeking to implement more climate friendly generation and diversify energy portfolios.
“These 4,000 MW solar, wind and green hydrogen projects, being the largest renewable energy production capacity in the region and in our energy history, provide ample opportunities for the development of Azerbaijan as a green growth country, green energy producer and exporter, as well as allow for involving multibillion-dollar green investment,” said Parviz Shahbazov, Azerbaijan’s Minister of Energy.
The agreement for onshore wind and solar projects includes measures to study and strengthen the network and implement processes for the export of electricity. The second agreement includes measures to create wind power for production and export purposes, decarbonization, hydrogen production and export.
In March, Masdar’s CEO Mohamed Jameel Al Ramahi attended the groundbreaking ceremony for Masdar’s 230 MW Garadagh Solar PV Plant in Azerbaijan. The plant, expected to start commercial operation in 2023, will help to generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 homes, and will reduce emissions by more than 200,000 tonnes a year, while also creating valuable jobs.
“These clean energy projects also demonstrate the valuable economic opportunities of the energy transition and will contribute to the energy diversification and energy security of Azerbaijan,” Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said. “Today’s announcement also underscores the UAE and Masdar’s position as a global leader in renewable energy, as we progress our strategy toward a portfolio of at least 100 GW globally.”
Masdar recently also announced its involvement in blue and green hydrogen projects in the north of England alongside Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ largest energy company.
