Masdar To Continue To Play Key Role In Dev't Of Renewables In Azerbaijan - Director

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 5. Masdar, a company based in the United Arab Emirates (UAE), will continue to play a key role in the development of renewable energy sources in Azerbaijan to strengthen its strategic partnership in the region, Director of Development and investment for Masdar in Asia and Africa Abdullah Zayed said, Trend reports.

He made the remark during today's panel discussions themed "Unlocking Sustainable Energy: Green Energy Potential in the Caspian Region" within the 29th Baku Energy Forum in Azerbaijan.

"Having extensive experience in the field of renewable energy sources, the company is actively working not only in Azerbaijan but also in Uzbekistan, as well as in other countries in the region. In this context, it is necessary to note the significance of the 230 MW Garadagh solar power plant project, highlighting its contribution to the country's energy sector. As you know, yesterday we signed another agreement, but Azerbaijan's potential in the field of renewable energy sources is much greater,” the company's representative pointed out.

To note, President of the Republic of Azerbaijan Ilham Aliyev and Minister of Industry and Advanced Technologies of the United Arab Emirates Sultan Ahmed Al Jaber laid the foundations for the Neftchala and Bilasuvar solar power plants and the Absheron-Garadagh wind power plant on June 4 at the opening ceremony of the 29th International Caspian Oil and Gas Exhibition and the 12th Caspian International Power and Green Energy Exhibition, known as Caspian Power, during the Baku Energy Week at Baku Expo Center.

Agreements on the mentioned three renewable energy projects were signed with Masdar, including an "addition to the investment agreement" between the Ministry of Energy of Azerbaijan and AzerEnergy OJSC and Masdar on the Bilasuvar solar power plant, the Neftchala solar power plant, and the Absheron-Garadagh wind power plant.

The Garadagh wind power plant project itself, the energy purchase and sale agreement, the agreement“On connection to the power transmission network,” and the“Land lease agreement” were also approved.


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.