Masdar partners with Azerbaijan’s SOCAR to develop renewable energy projects

Masdar partners with Azerbaijan’s SOCAR to develop renewable energy projects

Abu Dhabi: Clean energy company Masdar has signed joint development agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) for onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a total combined capacity of 4 gigawatts (GW). The agreements were signed by Mohamed Jameel Al Ramahi, CEO of Masdar, and Rovshan Najaf, President of SOCAR, on the sidelines of Abu Dhabi Sustainability Week. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, and Mikayil Jabbarov, Minister of Economy for Azerbaijan, witnessed the signing. Dr. Al Jaber said: “These agreements will serve to strengthen the already powerful relationship between the UAE and Azerbaijan, and are a testament to our shared commitment to diversifying our energy mix and developing low- and zero-carbon solutions. As global leaders gather here in the UAE for Abu Dhabi Sustainability Week, we are demonstrating the power of partnership and cooperation in advancing the inclusive energy transition and I look forward to seeing more announcements being made at ADSW.” In June last year, Masdar signed implementation agreements with Azerbaijan’s Ministry of Energy to develop a renewable energy program on a bilateral