His Excellency Ilham Aliyev, President of the Republic of Azerbaijan witnessed; His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman of the COP28 Conference, Chairman of the Board of Directors of Masdar, held the foundation stone laying ceremony for three solar and wind energy projects with a capacity of 1 GW, during the opening of Baku Energy Week. Abu Dhabi Future Energy Company (Masdar), a global leader in the field of clean energy, will develop these projects in cooperation with the National Oil Company of Azerbaijan (SOCAR).
HE Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology Chairman of Masdar and COP28 President; HE Ilham Aliyev President of Azerbaijan
The ceremony was attended by His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan; His Excellency Mikail Japarov, Minister of Economy of the Republic of Azerbaijan, Chairman of the Supervisory Board of the National Oil Company of Azerbaijan “SOCAR”; And Mohammed Jameel Al Ramahi, CEO of Masdar.
These projects come within the framework of Masdar’s strategic role as a reliable global partner, and in the wake of Masdar’s success in developing the 230 MW Karadag solar power plant in October 2023, which is the first independent solar energy project based on foreign investment in Azerbaijan, and the largest. Solar power plant in the area.
On this occasion, His Excellency Dr. Sultan bin Ahmed Al Jaber said: “In line with the leadership’s vision to enhance international cooperation and spread clean energy projects and solutions in a way that supports sustainable economic and social development, laying the foundation stone for the development of these three important projects in the field of renewable energy comes within the framework of close cooperation relations with… The friendly Republic of Azerbaijan, and the role of “Masdar” in supporting its efforts to diversify energy sources, develop new sectors, provide job opportunities, and promote sustainable economic development, and in line with the goals of the historic “UAE Agreement” that was agreed upon at the COP28 conference, it is important to continue cooperation with partners and work to develop more. “One of these specific projects is to ensure a just, orderly, responsible and logical transition in the energy sector and to preserve the possibility of avoiding global warming from exceeding 1.5 degrees Celsius.”
The three projects include the 445 MW Belasovar Solar PV Plant, the 315 MW Nivchala Solar PV Plant, and the 240 MW Absheron Karadag Onshore Wind Power Plant. The investment agreements for the projects were signed in October 2023, followed by the signing of power purchase agreements, interconnection and land leasing agreements. On the sidelines of the Baku Energy Week, Masdar and SOCAR also signed a partnership agreement in the three projects.For his part, His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, said: “Today, the Republic of Azerbaijan and the UAE have achieved a new achievement that embodies the depth of fraternal relations, friendship and strategic partnership between the two countries, as laying the foundation stone for the development of three stations with a capacity of 1 gigawatt represents a first step of its kind.” In the field of adopting green energy solutions in Azerbaijan, it is also an indication of our commitment to energy transformation efforts in order to build a sustainable world, especially since Azerbaijan will host the next Conference of the Parties, and these three stations will contribute to promoting sustainable development by generating 2.3 billion kilowatt hours of energy Electricity, saving more than 500 million cubic meters of natural gas, as well as avoiding the release of more than one million tons of carbon emissions annually. We are pleased to cooperate with Masdar to move forward in implementing our plans in the field of sustainability.”
His Excellency Mikail Japarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Supervisory Board of the National Oil Company of Azerbaijan “SOCAR” said: “The cooperation of Masdar and SOCAR and the laying of the foundation stone today for the development of solar and wind energy projects constitutes a milestone in the sector’s journey.” Energy in Azerbaijan, as these projects confirm our commitment to diversifying energy sources and promoting sustainable development goals. Our partnership with “Masdar” also embodies the importance of cooperation and anticipating the future and the role of this in creating a tangible positive impact on the energy sector. Through our joint cooperation, we work to enhance green energy projects that… Its effects will be reflected on the economy, environment, society and future generations.”
