Renewable energy company Masdar has started construction on the 230MW Garadagh solar PV plant in Azerbaijan. The announcement was accompanied by the signing of four new clean-energy projects in the country.
The Garadagh solar project will help to generate half a billion KWh of electricity annually. It is the nation’s first foreign investment-based independent solar power project.
Garadagh’s potential
The Garadagh power plant is projected to produce enough power to meet the needs of more than 110,000 houses and reduce annual emissions by more than 200,000 tons. It is also expected to create numerous valuable jobs in the process.
The Abu Dhabi Fund for Development (ADFD), a UAE development financing institution, is a key finance partner for the project.
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HE Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, commented on the promise of the new project to strengthen relations between Azerbaijan and the UAE.
Four new clean-energy projects
The announcement was also accompanied by agreements for four new projects across the country, all in a similar vein.
Masdar CEO, Mohamed Jameel Al Ramahi, signed four memorandums of understanding (MOUs) with different parties, all related to the development of clean energy projects in the country.
Al Ramahi said of the announcements, “This ground-breaking event marks a major milestone in Azerbaijan’s clean energy journey and we at Masdar are proud to be able to leverage our experience and expertise to support the nation’s energy transition.
“By diversifying its energy mix, Azerbaijan will be able to drive sustainable development and enhance energy security, while making a major contribution to climate change mitigation.”
The signing and announcement ceremony was held in Baku, Azerbaijan’s capital. It was attended by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, HE Suhail Al Mazrouei and HE Parviz Shahbazov, the Minister of Energy for Azerbaijan.
Al Ramahi led the company’s delegation.
Azerbaijan’s power generation
Azerbaijan aims to enhance the proportion of installed power capacity from renewable sources to up to 30% by 2030. This comes as the country looks to diversify its economy and reduce greenhouse gas emissions.
Azerbaijan has an estimated solar energy potential of 23,040MW, according to the International Renewable Energy Agency (IRENA).
