Masdar partners with Azerbaijan’s SOCAR to develop renewable energy projects with 4 GW capacity

Masdar partners with Azerbaijan’s SOCAR to develop renewable energy projects with 4 GW capacity

- Agreements follow signing of implementation agreements with Azerbaijan's Ministry of Energy to develop a renewable energy program with a total capacity of 10 GW

- Projects support Azerbaijan's goal of meeting 30 percent of domestic power needs from renewable energy sources by 2030

ABU DHABI, UAE /PRNewswire/ -- Masdar, one of the world's leading clean energy companies, 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, Chief Executive Officer of Masdar, and Rovshan Najaf, President of SOCAR, on the sidelines of Abu Dhabi Sustainability Week, the global platform for accelerating sustainable development hosted by Masdar. HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, and HE Mikayil Jabbarov, Minister of Economy for Azerbaijan, witnessed the signing.

HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, said, "These agreements will serve to strengthen the already powerful relationship between the United Arab Emirates and the Republic