UAE-based energy giant vows support to Azerbaijan in green hydrogen exports

Mohamed Jamil Al Ramahi, CEO of the UAE-based energy giant Masdar, has said his company is ready to support Azerbaijan in the production of environmentally friendly hydrogen and its further export to the European market.

The CEO made the statement on the sidelines of the Astana International Forum (AIF 2023), Trend reports.

"We have signed an agreement with the Ministry of Energy to assess the possibility of producing clean hydrogen in Azerbaijan and its potential export to Europe. We are already actively engaged with the Azerbaijani side in this area," he said.

The Masdar CEO noted that the initiative is currently under study and analysis.

"We will assess the opportunities in this area, and look at the production possibilities. We strongly believe in this potential. That is why an agreement has been signed with the Ministry of Energy. We have already started research. The hydrogen economy is a long-term thing, it is the economy of the future. But to implement it, we need to start today," he said.

According to Masdar's director general, the company's portfolio of projects in Azerbaijan is quite large.

"We have signed a programme of almost 10 GW, and we are now focusing on realising 4 GW, and currently 1 GW. The first phase of this project will be commissioned this year. So, the first solar power plant will be commissioned this year. And then we will start developing projects across the country," he explained.

Azerbaijan and the UAE have been cooperating in the renewable energy sector for many years. The UAE’s leading developer and operator of utility-scale renewable energy projects Masdar laid the foundation of the $200-million plant in Azerbaijan in March 2022. The top-notch power generation centre will reportedly become operational sometime in 2023 as one of the largest foreign investments in Azerbaijan’s renewable energy sector.

The alternative energy potential of Azerbaijan is great and is the highest in the region. The potential of wind and solar energy on land is 27 GW. In the country’s liberated territories, this indicator is 10 GW. In addition, the Azerbaijan sector of the Caspian Sea has a potential of 157 GW of wind power.