Abu Dhabi Future Energy Company PJSC – Masdar, a leading clean energy entity in the UAE, and SOCAR, the State Oil Company of Azerbaijan, have initiated the construction of three significant solar and wind projects in Azerbaijan, totaling 1 gigawatt (GW) in capacity.
The groundbreaking ceremony, held during the opening of Baku Energy Week, underscores Masdar’s enduring commitment to Azerbaijan as a global strategic partner.
The event was graced by HE Ilham Aliyev, President of Azerbaijan, and HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President. Also present were HE Parviz Shahbazov, Azerbaijan Minister of Energy, HE Mikayil Jabbarov, Azerbaijan Minister of Economy and Chairman of the Supervisory Board of SOCAR, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
The groundbreaking activities encompass the 445MW Bilasuvar Solar PV Project, the 315MW Neftchala Solar PV Project, and the 240MW Absheron-Garadagh Onshore Wind Project. Investment agreements for these projects were established in October 2023, followed by the signing of Power Purchase Agreements, Transmission Connection Agreements, and Land Lease Agreements.
Additionally, Masdar and SOCAR inked a Shareholder Agreement for the three projects on the sidelines of Baku Energy Week.
HE Dr. Sultan Al Jaber expressed pride in partnering with Azerbaijan to expand its renewable energy capacity, facilitating the nation’s energy diversification efforts and fostering sustainable economic growth. He emphasized the UAE’s commitment to tripling renewable energy capacity by 2030, underscoring the necessity of collaborative partnerships for an equitable energy transition.
HE Parviz Shahbazov highlighted the historic significance of the collaboration between Azerbaijan and the UAE in advancing green energy initiatives. He emphasized the pivotal role of the projects in contributing to sustainable development goals, including substantial reductions in carbon emissions and natural gas usage.
HE Mikayil Jabbarov emphasized the groundbreaking as a milestone in Azerbaijan’s energy journey, showcasing the nation’s commitment to diversifying energy sources and achieving sustainable development objectives. He praised the partnership with Masdar as a testament to forward-thinking and collaboration in driving impactful change in the energy sector.
Mohamed Jameel Al Ramahi underscored Azerbaijan’s strategic importance to Masdar and highlighted the groundbreaking as a significant step towards realizing ambitious clean energy plans in the country. He emphasized Masdar’s support for Azerbaijan’s clean energy vision ahead of COP29 and beyond, building on the success of previous utility-scale projects.
The groundbreaking of these solar and wind projects signifies a collaborative effort to advance sustainable energy initiatives in Azerbaijan, contributing to both economic and environmental objectives.
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