MASDAR`s Future Plans

MASDAR`s Future Plans

31 may 2023 0000

Murad Sadikhov, Regional Manager, MASDAR

MASDAR is a UAE-based company, one of the world's leading renewable energy companies, with a presence in over 40 countries worldwide. We have more than 20 GW of power generation capacity under our management.

We are committed to expanding our generation capacity. Our goal is to grow to 100 gigawatts of installed capacity by 2030 and become one of the global leaders in green hydrogen and green energy in general.

We have a project in Azerbaijan that is currently being implemented. It's the Garadagh solar power plant. We're planning to complete its construction by the end of this year, and then we'll use it for 23 years.

In addition, at the same event last year, we negotiated and signed two agreements totaling approximately 10 gigawatts of capacity for solar farms, wind farms, offshore wind farms, and green hydrogen production. Design and survey work for these projects is now underway.

Shortly, we will launch the first phase of this global project, in which we plan to establish domestic consumption of green energy and, in the future, organize exports to neighboring countries.

Our company is a Gold Sponsor of the exhibition; this is the second year of our participation in this event. We are glad to have this opportunity, as it is a good chance to present ourselves and our capabilities, as well as a good platform for establishing contacts, for prospective business communication with representatives of both state and private companies.

Since the first exhibition last year was very successful for us, we hope that this year we will be able to expand cooperation with Azerbaijan and our company will occupy a niche in the local market. In January we also signed a cooperation agreement with Socar.

We hope to start implementing our ambitious plans shortly.