Solar panels. Author: Chris Baird. License: Creative Commons. Attribution 2.0 Generic
Garadagh is Azerbaijan’s first foreign investment-based independent solar power project, according to the UAE renewables company. The Abu Dhabi Fund for Development, a government agency, acted as a key finance partner for the project, Masdar said.
The solar farm site is located 9 kilometres northwest of the Alat settlement. Masdar expects Garadagh to reach commercial operation in 2023, and produce around 0.5 TWh per year.
While in Azerbaijan, Masdar took the opportunity to sign four memoranda of understanding (MoUs) with different parties, all related to the clean energy development, the company further stated.
"We look forward to building on our presence here in Azerbaijan, and helping the nation achieve its renewable energy objectives through these agreements,” Mohamed Jameel Al Ramahi, the CEO of Masdar, said in a statement.
Azerbaijan has the potential for an estimated 23,040 MW of solar energy, Masdar added, citing data from the International Renewable Energy Agency (IRENA).
