Masdar to develop 4,000MW RE ‘Mega projects’ in Azerbaijan
The projects will include 1,000MW each of solar and wind, and 2,000MW of green hydrogen.
Masdar has signed a agreements with the Ministry of Energy of Azerbaijan for the development of a total of 4,000-megawatt renewable energy projects.
Under the agreements, Masdar is expected to develop 1,000MW of solar photovoltaic projects, 1,000MW more of onshore wind, and 2,000MW of green hydrogen projects.
"The 4,000MW of renewable energy projects announced today reinforce the close relationship between the United Arab Emirates and Azerbaijan and are a testament to our shared commitment to progressive climate action,” HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said.
“Today's announcement also underscores the UAE and Masdar’s position as a global leader in renewable energy, as we progress our strategy toward a portfolio of at least 100 GW globally.”
The agreement also provided Masdar a right to develop additional 6,000MW of clean and renewable energy projects as a second phase. This brings the total production capacity to 10,000MW, the largest in Azerbaijan’s history.
Moreover, the agreement on onshore wind and solar projects cover measures to study and strengthen the network as well as implement processes to export electricity.
The second agreement, meanwhile, provides for the production of wind power and its exportation, amongst others.
These 4,000 MW solar, wind and green hydrogen projects, being the largest renewable energy production capacity in the region and in our energy history, provide ample opportunities for the development of Azerbaijan as a green growth country, green energy producer and exporter, as well as allow for involving multibillion-dollar green investment,” HE Parviz Shahbazov, Minister of Energy, said.