(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 17. The
Masdar company (UAE) plans to implement various projects in
Azerbaijan, Director of Masdar Azerbaijan Murad Sadikhov said,
trend reports.
He made the remark at a panel discussion themed 'Green
Hydrogen: State of Play and Application in Azerbaijan' as part of
the 'Green Hydrogen: Path to Decarbonization' seminar.
In particular, he noted that the company plans to
implement a 1 GW onshore wind project by 2026, a 2 GW offshore wind
project, and a green hydrogen project by 2033, and further expand
the use of solar, onshore, and offshore wind by 2037.
'In 2022, Masdar and the Ministry of Energy of
Azerbaijan signed an agreement on the development and investment in
renewable energy sources. Also in 2022, the parties signed an
implementation agreement that covers a number of offshore wind
energy projects and green hydrogen production,' he said.
In addition, Masdar also signed an agreement with
SOCAR (State Oil Company of Azerbaijan Republic) to explore the
potential for electrification of their offshore oil and gas
facilities in the Caspian Sea using offshore wind power, he
added.
Meanwhile, Azerbaijan's technical potential for
offshore wind in the Caspian Sea is 157 GW. Azerbaijan has already
signed relevant deals with Masdar and Fortescue Industries on the
total installed capacity of 22GW. For comparison, the entire
installed capacity of power production in Azerbaijan, including all
renewable and non-renewable, is 8 GW. Out of those 22 GW, about 16
GW account for offshore wind energy production. Ministry of Energy
has also signed an agreement with ACWA Power on the construction of
an offshore wind farm.
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