UAE’s clean energy company Masdar, established by Mubadala in 2006, has taken a leadership in the global energy transition and has also helped to drive the Gulf Cooperation Council nation’s economic diversification and climate action agenda.
Masdar is active in more than 40 countries and has invested in or committed investments to projects amounting to over $30 billion. It is also targeting green hydrogen production of one million tonnes by the end of the decade.
Garadagh Solar Park the first in several potential projects
Masdar on Thursday announced the inauguration of Garadagh Solar Park in Baku, the region’s largest operational solar plant. Garadagh is a testament to both countries’ shared commitment to diversifying the global energy mix.
Dr Sultan al-Jaber, UAE’s minister of industry and advanced technology, said that Baku’s ambition to develop zero-carbon solutions through clean energy is exactly the thing the global community needs at the moment.
The Garadagh Solar Park is going to generate enough electricity annually to meet the needs of more than 110,000 homes. In February, Masdar opened an office in Baku to strengthen its presence in the country, reported The National.
Essentially, Garadagh is the first in a number of potential projects in the country. It is going to lure more investment and international collaboration. Baku is pleased to realise its strategic objectives as a green energy-producing and exporting country.
Many are calling COP29 Baku the ‘finance COP’
Baku is preparing to host the COP29 climate conference in November, helping global leaders make progress on climate commitments. Creative solutions are needed, both from the public and private sector, to make this the ‘finance COP’, as it has been billed.
The latest COP28 Summit happened in Dubai last year. It is the largest attended climate COP in history, convening 97,000 delegates and over 150 heads of state. Many people believe the upcoming Summit can help climate finance contributions meet estimated global needs.
