Stock Masdar
One of the agreements signed with Azerbaijan include development of onshore wind projects and possible export of electricity. Image Credit: Shutterstock

Dubai: Masdar, Abu Dhabi’s alt-energy powerhouse, will develop 4,000 megawatts of clean and renewable energy capacity in Azerbaijan. This is through an exclusive concession from the Central Asian republic, and with the additional rights to develop a further 6,000MW in a second phase.

There are two implementation agreements, one relating to the development of onshore wind projects with a capacity of 1,000 MW, and 1,000 MW of solar photovoltaic (PV) projects. The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000 MW.

“These clean energy projects also demonstrate the valuable economic opportunities of the energy transition and will contribute to the energy diversification and energy security of Azerbaijan,” said Dr. Sultan Ahmed Al Jaber, UAE’s Minister of Industry and Advanced Technology and Chairman of Masdar.

The agreement for onshore wind and solar projects includes measures to study and firm up the network as well as implement processes for the export of electricity. The second agreement includes ways to create wind power for production and export purposes, decarbonization, hydrogen production and export.

Masdar expects to reach over 50 GW in total renewable capacity by 2030. In December, the UAE government announced Abu Dhabi’s TAQA, ADNOC, and Mubadala are to be shareholders in Masdar, creating a ‘global clean energy powerhouse that will be a major force in renewables and green hydrogen’.

Last year, Masdar increased capacity on its worldwide clean energy portfolio by 40 per cent and so far this year has signed agreements to explore and develop renewable energy and green hydrogen projects with a combined capacity of more than 10 GW.

Today's announcement underscores the UAE and Masdar’s position as a global leader in renewable energy, as we progress our strategy toward a portfolio of at least 100 GW globally

- Dr. Sultan Ahmed Al Jaber, Chairman of Masdar