Masdar Aims For New Renewable Energy Agreements With Azerbaijan At COP29 (Exclusive)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 9. Masdar is committed to participating alongside the UAE delegation at COP29 and looks forward to supporting Azerbaijan's government for a successful COP this year, Maryam Al Mazrouei, Head of Development and Investment (CIS) at Masdar, told Trend .

"Every initiative undertaken by Masdar in Azerbaijan contributes to the national target of tripling renewable energy capacity by 2030, which aligns with the country's goal of achieving 30 percent capacity of renewable energy by the same year. As part of the UAE delegation, we will be certainly participating eagerly," she said.

Speaking of the possibility of inking more deals between Azerbaijan and Masdar as part of the COP event, Al Mazrouei noted that she will be "personally enthusiastic about pushing forward and signing additional agreements" between the sides.

"Azerbaijan is a key strategic market for Masdar. We began discussions with the Ministry of Energy in 2018-2019, and as we speak, we already have one operational project. The 230 MW Garadagh solar PV project was inaugurated and has been a great success. With the strategic collaboration between Masdar, the Ministry of Energy of Azerbaijan, and Azerenergy, we aim to expand and build on this success," the company rep added.

In November this year, Azerbaijan will host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29). This was decided at the plenary meeting of COP28 held in Dubai on December 11 last year. Within two weeks, Baku, having become the center of the world, will host about 70,000–80,000 foreign guests.

The UN Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for Conference of Parties, which is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change. A total of 198 countries are parties to the convention. Unless the parties decide otherwise, COP is held annually. The first COP event was held in March 1995 in Germany's Berlin, and its secretariat is based in Bonn.


Trend News Agency

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