(Abu Dhabi / United Arab Emirates) – The Abu Dhabi Future Energy Company (Masdar) from the United Arab Emirates (UAE) wants to work with the state oil company of the Republic of Azerbaijan SOCAR (State Oil Company of Azerbaijan Republic) to develop wind, solar and green hydrogen projects with a total output of four gigawatts ( GW). This was agreed by Masdar board member Mohamed Jameel Al Ramahi and SOCAR president Rovshan Najaf on the sidelines of Abu Dhabi Sustainability Week.
The agreement is part of one already signed between Masdar and the Azerbaijani Energy Ministry in June last year Memorandum of Understanding for the installation of renewable energy systems with an output of ten gigawatts. According to the information, the 4 gigawatt agreement that has now been reached is the first phase of the program. Nothing was said about the amount of investment, nor about locations or start of construction.
Masdar plans 100 GW of renewable energy power plants
Masdar recently announced a new shareholder structure and additional focus on green hydrogen. The company's shareholders are the energy company TAQA (Abu Dhabi), the state-owned Abu Dhabi National Oil Company (ADNOC) and the sovereign wealth fund of the United Arab Emirates Mubadala Investment. The association wants to install renewable energy power plants with an output of 2030 gigawatts by 100 and produce green hydrogen to the tune of one million tons annually.
Masdar has been developing the 2022 megawatt “Garadagh” photovoltaic power plant in Azerbaijan since March 230. Once completed, the plant is expected to generate half a billion kilowatt hours of electricity annually and go into operation in 2023. The country has set itself the goal of generating around 2030 percent of its domestic electricity needs from renewable energy sources by 30.
Also in March last year, Federal Minister of Economics Robert Habeck and a business delegation made a quick visit to Abu Dhabi Contracts for the supply of hydrogen to Germany and other cooperation agreements signed.
Photos
Masdar and SOCAR agree to develop four gigawatts of wind, solar and hydrogen projects as the first phase of a 10 GW program. © Masdar
