Masdar Ready To Further Support Azerbaijan's Plans For Clean Energy
Date
12/14/2023 8:11:49 AM
(MENAFN- AzerNews)
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Abbas Ganbay Read more
Masdar Company of the United Arab Emirates (UAE) is ready to
further support Azerbaijan's plans on clean energy, Azernews reports.
This is stated in the official account of the company in the
social Network "X":
"We congratulate the Republic of Azerbaijan on hosting COP29
next year. As a loyal partner since 2020, Masdar is proud to
support Azerbaijan's clean energy ambitions. We are working
together to get more than 30% of total energy capacity from
renewable energy sources by 2030," the information says.
Masdar Company is building the largest solar power plant in the
Caspian region and CIS in Garadagh. The station was built at the
expense of foreign investments worth $262 mln. This is the first
solar power plant of industrial scale realised by attracting
foreign investments in Azerbaijan.
Annual generation of 500 mln kilowatt-hours of electricity at
the station will save 110 mln cubic metres of natural gas. At the
same time, carbon dioxide emissions will be reduced by 200,000
tonnes. The 550-hectare power plant has 570,000 solar panels. A
330-kilovolt substation has been built to connect the plant to the
grid.
In addition, three investment agreements on green energy
projects with a total capacity of 1,000 MW were signed between the
Government of Azerbaijan and Masdar. The investment contracts
envisage the implementation of a 445 MW solar power plant in the
Bilasuvar district, a 315 MW solar power plant in the Banke
settlement of the Neftchala district, and a 240 MW wind power plant
in the Absheron-Garadagh district.
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