Masdar plans to complete construction of solar power plant in Karabakh by year end

MARCH 17, 2023

UAE's Masdar plans to build a solar power plant of a capacity of 1 GW in Azerbaijan by 2025 and a wind power plant of a capacity of 1 GW by 2026, country manager of Masdar Azərbaycan Enerji Murad Sadigov said at the seminar "Green hydrogen - way to decarbonization".

Sadigov noted that the project of construction of the Karabakh photovoltaic solar power plant under implementation in Azerbaijan by Masdar will be completed at the beginning of next year: "However, we want to complete the project by the end of this year. Azerbaijan is one of the main strategic places for the UAE. We are pleased to participate in ongoing projects here and be an integral part of Azerbaijan's 'green' agenda. The reason for this, among other things, is the large potential for renewable energy at sea and on land.

We have an agenda for green energy. The issues included in it and our goals coincide with the strategic line of Azerbaijan. These issues are mainly related to the decarbonization of the oil and gas sector, improving the existing infrastructure, working to improve the oil and gas sector, reducing carbon emissions, creating new jobs for local companies, etc.”

Sadigov noted that Masdar, together with the Azerbaijani government and stakeholders, wants to implement primary investment initiatives in Azerbaijan: "We have signed a memorandum of cooperation with SOCAR and our cooperation continues. We are conducting research to assess local supply chains, identify the potential of local companies for them to also promote the use of renewable energy."