SOCAR, UAE’s Masdar company sign joint development agreements

24 November 2024

SOCAR, UAE’s Masdar company sign joint development agreements for renewable energy sources

22:05 15 January 2023 Read: 504

SOCAR, UAE’s Masdar company sign joint development agreements for renewable energy sources

Within the framework of President Ilham Aliyev’s working visit to the United Arab Emirates (UAE), the State Oil Company of Azerbaijan (SOCAR) and the UAE’s Masdar company have signed Agreements on the joint development of offshore wind energy and hydrogen projects with a capacity of 2 GW, as well as joint development of 1 GW solar photovoltaic (PV) and 1 GW onshore wind energy projects, AzVision.az reports citing SOCAR.

According to the company, these agreements will contribute to further strengthening of cooperation between Azerbaijan and the UAE, as well as reducing greenhouse gas emissions in Azerbaijan, developing renewable energy sources and sustainable economic growth of the country.

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