The possible cooperation with Masdar on green energy is expanded

Four Memorandums of Understanding were signed with Masdar within the groundbreaking ceremony for the 230 MW Garadagh Solar PV Plant in Baku on 15 March.

The Memorandum of Understanding on cooperation in integrated offshore renewable energy between the Ministry of Energy and Masdar was signed by Samir Valiyev, Deputy Energy Minister and CEO of Masdar Mohamed Jameel Al Ramahi. The Memorandum includes possible cooperation to support the use of renewable energy in Azerbaijan, as well as intergrated solutions covering offshore wind energy use, green hydrogen production, carbon capture, use and storage at the expense of this energy, as well as other activities.

The Memorandum of Understanding on cooperation in the field of renewable and clean energy in the Karabakh and East Zangazur economic regions was signed between the Ministry and the company by Tabriz Ammayev, the Director of AREA under the Ministry of Energy and Mohamed Jameel Al Ramahi, CEO of Masdar. The Memorandum defines possible cooperation on the use of renewable energy sources in the liberated territories of Azerbaijan. According to the document, Masdar intends to study investment opportunities in coordination with the Ministry in areas such as utility scale wind and solar PV plants, rooftop solar systems and others.

It is planned to establish a Steering Committee to guide and control the activities carried out within the both memorandums.

Within the event, Masdar and the Ministry of Economy signed Memorandums of Understanding on cooperation in the field of energy production from solid waste, and in the field of renewable energy and energy efficiency with Azerbaijan Railways CJSC.

It should be reminded that Masdar, which is cooperated on the 230 MW Garadagh Solar Power Plant project with an investment value of more than 225 million USD, operates in more than 40 countries, including the UAE, Saudi Arabia, Jordan, Egypt, Morocco, Great Britain, USA, Australia, Serbia, India, Indonesia, Uzbekistan and many other countries.