Masdar company of the United Arab Emirates (UAE) intends to expand its activities regarding renewable energy sources in Azerbaijan, Abdullah Zayed, head of Masdar's Development and Investment Department for Central Asia and Russia, said on the first day of the Baku Energy Week.
According to him, Azerbaijan has great potential for renewable energy:
"We want these opportunities to be sustainable. Azerbaijan has great potential for renewable energy and it needs to be developed. We see Azerbaijan as a regional center for renewable energy sources. We want to further develop projects related to the use of wind and solar energy."
Zayed said that the 240-megawatt solar power plant under construction in Garadagh will be completed and put into operation by late 2023.
"Thus, we will provide energy to 110,000 homes in the country. This will be the first major project in terms of structure and scale."