Masdar, one of the world’s fastest-growing renewable energy companies, has opened an office in Baku, the capital city of Azerbaijan, in a move to strengthen its support for the country’s renewable energy development.
The inauguration event for the office, located in Port Baku Tower, was attended by His Excellency Mohammed Murad Al Blooshi, UAE Ambassador to the Republic of Azerbaijan, and Mr. Javid Abdullayev, Director of Azerbaijan Renewable Energy Agency under the Ministry of Energy, along with a delegation from Masdar, led by its Chief Executive Officer, Mr. Mohamed Jameel Al Ramahi.
Masdar will work closely with the government and other stakeholders in Azerbaijan to accelerate the growth of its renewable energy sector, as the country continues to take bold steps to meet clean energy targets and transition to a low-carbon future.
“The UAE and Azerbaijan both recognize the importance of investing in renewable energy to advance economic diversification, stability, and growth. Masdar’s increasing scope of work in Azerbaijan, evidenced by its new Baku office, demonstrates the UAE’s commitment to supporting decarbonization and sustainable development around the world.”
HE Al Blooshi said that “The opening of Masdar’s office in Azerbaijan is a testament to the shared ambition of the UAE and Azerbaijan toward renewables and sustainability. Our two nations are committed to working together to create a sustainable future, and the new office will play a critical role in supporting this important work.”
“The opening of our new office in Baku is a testament to Azerbaijan’s increasing focus on renewable energy and Masdar’s growing global portfolio, which we have pledged will reach 100 GW by 2030. We look forward to working with our partners in Azerbaijan to continue to deliver world-class projects in support of the country and its renewable energy goals,” added Mr. Al Ramahi.
Mr. Abdullayev stated that “Developing our ample renewable energy potential is a strategic priority for Azerbaijan, and we believe that working with partners like Masdar will help us achieve our goals and create a brighter, more sustainable future for our people. The agreements we have signed with Masdar will play a critical role in our green growth journey and we look forward to further collaborations.”
Masdar is also developing the 230-megawatt Garadagh Solar PV Plant in Azerbaijan. The plant will help to generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 homes, and will reduce emissions by more than 200,000 tons a year, while also creating valuable jobs. Masdar announced the financial close of the plant in August 2022.