Euronews reports on Azerbaijan-UAE joint renewable energy project Amid COP29 preparations

Ilham Aliyev, President of Azerbaijan told Euronews this event “actually demonstrates our green agenda and also demonstrates that our position is attractive not only for those who invest in fossil fuels, but also for those who invest in renewables. Masdar is our strategic partner in the area of renewable energy.”

The projects include a 445 MW solar plant in Bilasuvar, a 315 MW solar plant in Neftchala, and a 240 MW wind farm in Absheron-Garadagh. The plants are expected to produce an average annual output of a total of 2 billion 3025 million kWh of electricity, in turn saving 496 million cubic metres of natural gas per year and preventing more than 943 thousand tonnes of carbon dioxide emissions.

Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President said in his address, "We are proud to partner with Azerbaijan on this significant expansion of its renewable energy capacity and to support Azerbaijan’s journey toward energy diversification, stimulating new industries, new jobs and sustainable economic growth."

The announcement comes as Azerbaijan prepares to host COP29 in Baku in November taking over the mantle from the UAE. Sultan Al Jaber added, “A key pillar of the historic UAE consensus is the goal of tripling renewable energy capacity by 2030. We need many more partnerships like these to ensure a just, orderly and equitable energy transition that keeps 1.5 within reach."

His comments resonated heavily with President Aliyev who also told Euronews, “It really demonstrates how a country which generated wealth from fossil fuels now is channelling this wealth into the renewable energy and as a host country of Cop 29, this is also our obligation to be among the frontrunners on the green transition.”

There were also calls for switching to cleaner energy solutions, and advancements in AI as well as ensuring economic growth in developing countries to help accelerate climate-positive sustainable development, as over 300 companies from 37 countries came together for one of the most important events on the global energy sector calendar.