QAZAQ GREEN.  Masdar, the Abu Dhabi Future Energy Company PJSC, has officially enteredinto agreements for renewable energy projects in Azerbaijan with a combined capacity of 1 gigawatt (1GW). This milestone comes following the inauguration of the largest operational solar facility in the region, the 230MW Garadagh Solar Park.

These strategic agreements mark the progression of the initial phase of a substantial 10GW pipeline of renewable energy projects in Azerbaijan, which was initially signed in June 2022. Notably, the Garadagh project represents Azerbaijan's first foreign investment-based independent solar power initiative and stands as the largest solar facility in the region.

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

The 1GW clean energy agreements were formally signed by 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.

Dr. Sultan Al Jaber emphasized the importance of Azerbaijan's commitment to low and zero-carbon solutions through renewable energy, aligning with global energy diversification efforts. He also expressed the UAE's pride in supporting Azerbaijan's clean energy objectives, aiming to generate more than 30 percent of its overall energy capacity from renewables by 2030.

Dr. Sultan highlighted the need for nations worldwide to establish clear energy transition plans with specific targets for renewable energy capacity, with a focus on limiting global temperature increases to 1.5°C.

At the inauguration event, Dr. Sultan commended President Ilham Aliyev and Azerbaijan for their strategic plan to foster new industries, job creation, and green economic growth.

In his speech, Dr. Sultan made the following key points:

·        As COP28 approaches, Garadagh serves as a practical example of the actions necessary to translate the goals of the Paris Agreement into reality.

·        Although Paris united the world around a common environmental goal, more substantial actions are needed to bridge the emissions gap.

·        To stay on track to limit global temperature increases to 1.5°C, the world must triple its renewable energy capacity by 2030.

·        The spirit of inclusivity is vital for COP28, as it brings the world together to focus on solutions and results.

The Garadagh Solar Park, Masdar's inaugural project in Azerbaijan, is anticipated to generate over half a billion kilowatt-hours of electricity annually, sufficient to power more than 110,000 households while reducing carbon emissions by over 200,000 tonnes each year. The project's financing is a collaborative effort involving the Abu Dhabi Fund for Development, the Asian Development Bank, the European Bank for Reconstruction and Development, and the Japan International Cooperation Agency.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, emphasized that the inauguration of the Garadagh Solar Park marks a significant milestone. He also highlighted that this project is the first of several potential initiatives encompassing onshore wind, offshore wind, solar, and green hydrogen, with a combined capacity of 10GW. These efforts aim to foster greater investment and international cooperation, aligning with Azerbaijan's ambitious climate goals.