TODAY.AZ / Business

Azerbaijan, UAE ink four renewable energy co-op accords

15 March 2022 [15:10] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan and the United Arab Emirates' Masdar company have signed four memorandums of understanding on cooperation in the renewable energy field.

The signing ceremony took place during a press conference dedicated to laying the groundwork for the Garadagh solar power plant, which has a capacity of 230 MW.

Azerbaijan's Deputy Minister Samir Veliyev and Masdar's Mohamed Jameel Al Ramahi signed a memorandum of understanding on cooperation in the field of integrated renewable energy at sea.

Azerbaijan Railways CJSC Deputy Chairman Hijran Valehov and Masdar's chairman Mohamed Jameel Al Ramahi signed a memorandum of understanding in the field of renewable energy and energy efficiency.

Moreover, the memorandum in the field of electricity generation from municipal solid waste was signed by the Azerbaijan Investment Company Executive Director Ulvi Mansurov and Masdar's Chairman Mohamed Jameel Al Ramahi.

In addition, the memorandum of understanding on cooperation in the field of renewable and clean energy in the Karabakh and East-Zangazur economic regions was signed. State Agency for Renewable Energy Director Tabriz Ammayev and Masdar's Chairman Mohamed Jameel Al Ramahi signed the document.

Karabakh region

Speaking at the press conference, Azerbaijan's Energy Minister Parviz Shahbazov stated that the country's Karabakh region has great potential for the construction of solar and wind power plants in the future.

He noted that the issues of green and clean energy will be worked out in Karabakh and East-Zangazur economic regions within the framework of the memorandums signed.

"There are plans to build a wind power plant with an installed capacity of 100 MW in the Kalbajar-Lachin zone. In addition, at the expense of foreign investments it is planned to develop solar energy in the region," he said.

Shahbazov highlighted that the Karabakh region has great potential for the construction of a solar power plant with an installed capacity of 200 MW in the future.

Additionally, Shahbazov underlined that there are plans to build a wind power plant in the Karabakh region.

"Within the framework of the memorandum of understanding signed today, it is planned to study the potential of Azerbaijan in the field of generating electricity from solar energy. It is also planned to use renewable energy sources with an installed capacity of 180 MW on railroads," he said.

Garadagh solar power plant

The minister also stated that the Garadagh solar power plant will enable Azerbaijan to save 110 million cubic meters of gas.

He added that the installed capacity of the power plant will be 230 MW, and its construction is planned to be completed by late 2022.

"After the solar power plant is put into operation, we will save 110 million cubic meters of gas. The power plant will produce 3 billion kWh of electricity a year. In addition, we will be able to increase exports of electricity," he said.

Noting that the investment cost of the project is $225 million, he stated that the Masdar company will invest these funds.

"Commissioning of this solar power plant will not affect the growth or reduction of electricity tariffs in Azerbaijan," he said

Moreover, Shahbazov stated that the commissioning of this power plant contributes to the creation of 700 jobs.

In turn, the UAE's Energy and Infrastructure Minister Suhail Al Mazroui stated that the implementation of the Garadagh solar power plant construction project in Azerbaijan will reduce CO2 emissions to 2,000 tons per year and ensure power supply to 110,000 residential houses.

He noted that Azerbaijan successfully develops its policy in the field of green energy, and the fact that the United Arab Emirates is involved in this is important for the development of the bilateral strategic partnership.

"In addition, 20 percent of construction materials will be purchased locally, which is extremely important for the development of Azerbaijani enterprises," he said.

He stressed that the Azerbaijani leadership is working to develop "green" energy.

"The UAE, including Masdar company, will always support Azerbaijan in the energy sphere," he said.

URL: http://www.today.az/news/business/217133.html

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