UAE-based renewable energy company Masdar has announced the formal start of construction for its 230-megawatt (MW) Garadagh solar PV plant in Azerbaijan.
The plant is the country’s first foreign investment-based independent solar power project. Furthermore, Masdar signed four agreements related to the development of additional clean energy projects across the country.
The Abu Dhabi-based company had signed agreements to develop the Garadagh project, situated nine kilometers northwest of the Alat settlement, in April of last year, with the plant expected to start commercial operation in 2023.
The project will help to generate half a billion kilowatt-hours of electricity annually, adequate to meet the needs of over 110,000 houses, and will reduce emissions by more than 200,000 tons a year, a statement said. The Abu Dhabi Fund for Development (ADFD) is a finance partner for the project.
Today, another important event is taking place in the #energy history of our country. The foundation of the 230 MW Garadagh Solar PV Plant is being laid in Azerbaijan.#EnergetikaNazirliyi@Masdar#GreenEnergy #230MW #SolarEnergy #GaradaghSPP pic.twitter.com/FP5YbFYrEM
— Azərbaycan Respublikası Energetika Nazirliyi (@minenergyaze) March 15, 2022
Suhail Al Mazrouei, the UAE’s Minister of Energy and Infrastructure, said,
“The United Arab Emirates and Azerbaijan share deep cultural and economic ties, as well as a vision for a sustainable future driven by clean energy. The UAE and Masdar look forward to continuing to drive foreign direct investment and supporting Azerbaijan on its ambitious clean energy journey as we explore more opportunities to further strengthen our partnership.”
Mohamed Jameel Al Ramahi, chief executive officer of Masdar, said,
“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.”
“We stand ready as an active strategic partner to Azerbaijan to provide knowledge exchange, develop local expertise and deliver lasting infrastructure improvement. Together with our local partners, we will put Azerbaijan on the path to a zero-carbon future.”
Looking to diversify its economy and reduce greenhouse gas emissions, Azerbaijan is targeting increasing the proportion of its installed power capacity coming from renewable sources to 30 per cent by 2030.
Azerbaijan has an estimated solar energy potential of 23,040 MW, according to the International Renewable Energy Agency (IRENA).
News Source: Gulf Business
