Masdar announces volume of renewable energy production in Azerbaijan

JANUARY 17, 2023

Azerbaijan has reliable hydrocarbon reserves, and the government has taken significant steps in the field of renewable energy, Hussain Muhammed Amir, who sponsored for the global offshore wind business with the Masdar, said, Report informs.

According to him, the Masdar company will implement its first project in the field of renewable energy with the State Oil Company of Azerbaijan (SOCAR): "I believe that these projects will maintain Azerbaijan's position as a reliable partner in energy supply to Europe. According to the memorandum of understanding signed between Azerbaijan and Europe, Azerbaijan will export both electricity and green hydrogen to Europe."

A company official said that Masdar is making good progress with its colleagues in Azerbaijan, including the government and its new partner, SOCAR, and will identify new areas for renewable energy production:

"We work closely with various government institutions, including the Ministry of Energy of Azerbaijan, Azerenergy OJSC, SOCAR, Ministry of Economy. We have excellent relations."

He recalled that last year the financing of the 230 MW Garadagh Solar Power Station located near the Alat settlement of Baku was achieved:

"We are trying to build this station successfully. According to the contract signed in 2022, 4 GW of energy will be produced in the first stage and 6 GW in the second stage. Of the 4 GW, 2 GW is integrated wind power, 1 GW is solar power, and 1 GW is wind power."