Masdar Eyes To Develop Up To 10GW Of Clean Energy In Azerbaijan - CEO

2024-06-04 10:09:32

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4. Masdar is going to develop up to 10 GW of clean energy in Azerbaijan by 2030, said Mohamed Jameel Al Ramahi, Masdar CEO, Trend reports.

He made the remark at the groundbreaking ceremony of three major solar and wind projects in Azerbaijan with a capacity of 1 GW, which took place today.

"Azerbaijan is a key strategic market for Masdar. With this groundbreaking of 1GW wind and solar projects, in partnership with SOCAR, we take a significant step forward in realizing our ambitious plan to develop up to 10 GW of clean energy by 2030 in Azerbaijan," he said.

According to Mohamed Jameel Al Ramahi, following the inauguration of the 230 MW Garadagh solar plant last year, the largest operational plant in the region when inaugurated, and other key utility-scale projects in development, Masdar is supporting and accelerating the country's clean energy vision ahead of COP29, and beyond.

The three groundbreakings include the 445 MW Bilasuvar Solar PV Project, 315 MW Neftchala Solar PV Project, and the 240 MW Absheron-Garadagh Onshore Wind Project. Investment agreements for the projects were reached in October 2023, followed by the signing of Power Purchase Agreements, Transmission Connection Agreements, and Land Lease Agreements.

The groundbreaking, which took place at the opening ceremony of Baku Energy Week, reinforces Masdar's long-term commitment to Azerbaijan as a global strategic partner.

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