Masdar Inks 1 Gigawatt Clean Energy Deals in Azerbaijan After Garadagh Solar Park Inauguration

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Abu Dhabi Future Energy Company – Masdar, a leader in clean energy, has finalized agreements for solar and onshore wind projects in Azerbaijan, with a combined capacity of 1 gigawatt (GW). This significant development comes on the heels of the inauguration of the Garadagh Solar Park, the largest operational solar facility in the region, boasting a capacity of 230 megawatts (MW).

The strategic agreements encompass the initiation of the first phase of a colossal 10GW pipeline of renewable energy initiatives in Azerbaijan, initially signed in June 2022. This follows the triumphant execution of the Garadagh project, which represents Azerbaijan’s maiden foreign investment-based independent solar power venture and stands as the region’s largest solar installation.

The prestigious inauguration of the Garadagh Solar Park was graced by the presence of Ilham Aliyev, President of the Republic of Azerbaijan, and Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar.

The groundbreaking 1GW clean energy agreements were formalized through the signatures of Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi, Azerbaijan’s Minister of Energy, Parviz Shahbazov, and Azerbaijan’s Minister of the Economy, Mikayil Jabbarov.

The Garadagh Solar Park marks Masdar’s debut venture in Azerbaijan and is set to produce a remarkable half a billion kilowatt-hours of electricity annually. This level of output is sufficient to power more than 110,000 households, significantly reducing carbon emissions by over 200,000 tonnes each year. Notably, the project is co-financed by the Abu Dhabi Fund for Development, the Asian Development Bank, the European Bank for Reconstruction and Development, and the Japan International Cooperation Agency.