Masdar, the renowned renewable energy company, has entered into pivotal agreements with the Azerbaijani government to develop solar and wind projects with a combined capacity of 1 gigawatt (GW). This milestone comes on the heels of the inauguration of the 230MW Garadagh solar park in Azerbaijan, marking a significant stride in the country's renewable energy endeavors.
These strategic agreements encompass the initial phase of a substantial 10GW pipeline of renewable energy projects, a commitment initially made in June 2022. The successful development of the Garadagh solar park, Azerbaijan's largest solar facility and its first independent solar power project based on foreign investment, served as a precursor to these developments.
The inauguration of the Garadagh site was conducted in the presence of Ilham Aliyev, the President of the Republic of Azerbaijan, and Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar.
The recently signed clean energy agreements were formalized by Masdar's Chief Executive, Mohamed Jameel Al Ramahi, alongside Azerbaijan's Minister of Energy, Parviz Shahbazov, and Minister of the Economy, Mikayil Jabbarov.
Ahmed Al Jaber underscored the significance of the Garadagh project, emphasizing the collective commitment to diversify the global energy mix. Azerbaijan's aspiration to bolster low and zero-carbon solutions through renewable energy aligns with global needs. The UAE stands as a proud supporter of Azerbaijan's clean energy objectives, aiming to have over 30% of its energy capacity sourced from renewables by 2030.
Al Jaber further stressed the need for nations worldwide to establish comprehensive energy transition plans, including clear targets for renewable energy capacity. With the UAE gearing up to host COP28 in November, the overarching objective for climate action remains limiting global temperature increases to 1.5 degrees Celsius, an aspiration that requires united efforts on a global scale.