The opening of Baku Energy Week was marked by the groundbreaking of three significant renewable energy projects in Azerbaijan, spearheaded by a partnership between Masdar, Abu Dhabi Future Energy Company PJSC, and the State Oil Company of Azerbaijan (SOCAR).
These projects, with a combined capacity of 1 gigawatt (GW), are part of Azerbaijan’s strategic plan to generate 30% of its energy from renewable sources by 2030.
The ceremony, attended by prominent figures including HE Ilham Aliyev, President of Azerbaijan, and HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and COP28 President, underscored the deepening cooperation between the two nations. Dr. Al Jaber emphasised the importance of this collaboration in driving global renewable energy capacity and achieving a just and equitable energy transition.
The three projects include:
- 445MW Bilasuvar Solar PV Project
- 315MW Neftchala Solar PV Project
- 240MW Absheron-Garadagh Onshore Wind Project
These projects are expected to generate 2.3 billion kWh of electricity annually, save over 500 million cubic meters of natural gas, and prevent more than 1 million tons of carbon emissions, contributing significantly to sustainable development and energy diversification in Azerbaijan.
Masdar’s CEO, Mohamed Jameel Al Ramahi, highlighted Azerbaijan as a key strategic market, reinforcing the company’s commitment to developing up to 10GW of clean energy in Azerbaijan by 2030. This follows the completion of the 230MW Garadagh solar plant, the largest operational solar plant in the region.
The groundbreaking signifies a major milestone in Azerbaijan’s energy transition journey, fostering sustainable economic growth and setting new standards for green energy projects in the region.
Established in 2006, Masdar, the UAE’s clean energy champion, is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target set in The UAE Consensus to triple global renewables capacity by the end of this decade, whilst aiming to be a leading producer of green hydrogen by the same year.
(Source: Masdar)