Renewable energy sources are the way to go. Therefore, more countries are leaning closer towards greener alternatives, seeing this as a major change that needs to happen globally. Azerbaijan is a nation that has also made strides in the renewable energy sector alongside the UAE.
Most recently, Masdar, UAE’s premier clean energy company, and SOCAR, Azerbaijan’s renewable energy arm, recently secured financial close for two outstanding solar projects. The 445 MW Bilasuvar and 315 MW Neftchala solar plants signify a combined investment going over $600 million, highlighting Azerbaijan’s efforts to move toward clean energy.
The projects are funded by top international organizations like the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (AIIB). These agreements were signed at COP29 in Baku, where senior officials overlooked the signing as well.
Further, UAE Minister of Industry and Advanced Technology and COP28 President, Dr. Sultan Ahmed Al Jaber, emphasized developing a partnership between the two nations. He then spoke on how long-term investments and partnerships can positively impact critical climate finance and lead to further progress toward achieving the UAE Consensus goal of raising the global renewable energy capacity by 2030.
Construction of the Bilasuvar and Neftchala solar plants commenced in June 2024, coinciding with Baku Energy Week, and is expected to be completed by the first quarter of 2027.
Rovshan Najaf, SOCAR’s President, sang his praises for the special collaboration with Masdar as a showcase of the strength of their strategic partnership, pointing out that this joint effort is a great gesture for the future as it signifies the diversification of energy sources, which will inevitably contribute to the global change.
Masdar has been in the lead since 2006 in terms of alternative energy projects in more than 40 countries, including solar, wind, and green hydrogen initiatives with a vision to expand capacity to 100 GW by 2030. Masdar’s first surge into Azerbaijan’s energy market was marked by the 230 MW Garadag solar plant, beginning in October 2023.
Keeping it simple, this partnership between the two companies greatly shows the significance of taking the right steps in combating climate change and environmental health as a whole. This collaboration also highlights what a solid impact teamwork can make when it comes to making a positive impact, particularly in terms of the climate.
What also helps is that these projects are supported by the European Bank of Reconstruction and Development and the Asian Development Bank, which shows a commitment to Azerbaijan and UAE’s determination to move towards a more sustainable future
As construction is happening now, it is expected to be completed by 2027. This will diversify Azerbaijan’s green energy source and contribute to the world’s search for a clear path ahead. With Masdar and SOCAR working together, they set an example of how countries can make joint efforts in sustainability, demonstrating that renewable energy is the way forward if we want to see a healthier, more prosperous planet in the years ahead.
