The United Arab Emirates’ “Masdar” company is implementing two solar power plant (SPP) projects in Azerbaijan with a total capacity of 760 megawatts. At the same time, work continues on a 240-megawatt wind power plant project. This will be the company’s first wind energy station in Azerbaijan and is currently in the financing stage.
This was reported by Maryam Al-Mazroui, Masdar’s Director for Central Asia, in a statement to AZERTAC.
She noted that intensive negotiations are underway with banks and, God willing, the financing issues will be successfully resolved within this year.
Maryam Al-Mazroui emphasized that Azerbaijan is a country of strategic importance for both the UAE and Masdar. She recalled that the foundation of the 230 MW Garadagh Solar Power Plant — Masdar’s first investment project in Azerbaijan — was laid in 2022.
“Azerbaijan is rich in solar and wind energy potential. It is no coincidence that Baku is called the ‘city of winds.’ Your country has enormous opportunities for clean energy. Azerbaijan intends to export its green energy to Europe, and the Ministry of Energy is holding discussions with regional countries in this direction. At the same time, negotiations are ongoing between Azerbaijan, Kazakhstan, and Uzbekistan regarding the export of renewable energy. Azerbaijan has broad opportunities both for domestic demand and for export. For example, Nakhchivan has very high potential in terms of solar energy, and there are also favorable areas for wind energy,” Al-Mazroui stated.
She added that Masdar is actively discussing the expansion of renewable energy projects with Azerbaijan. The company plans to implement an “around the clock” (24/7 uninterrupted) renewable energy production project in Azerbaijan. This model is currently under construction in Abu Dhabi and is operating successfully.
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