Abu Dhabi Future Energy Company PJSC – Masdar has signed agreements for 1 GW solar and onshore wind projects in Azerbaijan post inaugurating the operational 230 MW Garadagh Solar Park, the region’s foreign investment-based independent solar power project.
The strategic agreements include the first phase of a 10 GW pipeline of renewable energy projects in Azerbaijan signed in June 2022, followed by the development of Garadagh.
The Garadagh plant will generate half a billion kWh of electricity each year, enough to power more than 110,000 homes, reducing carbon emissions by over 200,000 tons a year.
"The UAE supports Azerbaijan's clean energy goals to generate more than 30% of its overall energy capacity from renewables by 2030,” said HE Dr Sultan Al Jaber, COP28 President-Designate and Chairman of Masdar. “As the UAE prepares to host COP28 in November, our North Star for climate action must be to keep the ambition of limiting global temperatures to 1.5C within reach."
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.
