Masdar: Azerbaijan makes great progress in renewable energy sector

Azerbaijan has rich hydrocarbon reserves and the government has made great progress in developing the renewable energy sector, said Hussein Mohammed Amir, the representative of the UAE-based energy company Masdar.

According to him, Masdar together with the Azerbaijani state-owned oil company SOCAR is implementing the first renewable energy project, Report informs.

Amir is convinced that this project would strengthen Azerbaijan's position as a reliable partner in Europe's energy supply, adding that Azerbaijan will export both electricity and green hydrogen to Europe according to the bilaterally reached Memorandum of Understanding.

The company representative recalled that last year an agreement was reached on financing the construction of a 230 MW Garadagh solar power plant at a site near the Alat village, which is located on the outskirts of Baku.

“Based on the contract signed in 2022, electricity generation with a capacity of 4 GW will be provided in the first stage, and 6 GW - in the second stage,” he added.