To support its green hydrogen and renewable energy projects, Masdar has launched a new office in Baku, Azerbaijan.
The establishment of this office will help the nation’s effort to cut greenhouse gas emissions and secure 30% of the nation’s energy needs from renewable sources by 2030.
Masdar signed cooperative development agreements earlier this year for 4GW worth of integrated offshore wind and green hydrogen projects, along with onshore wind and solar projects.
With the State Oil Company of the Republic of Azerbaijan (SOCAR), an agreement was made that supports national objectives. By 2030, Masdar plans to produce one million tonnes of green hydrogen annually and 100 GW of renewable energy capacity.
The development of a bilateral renewable energy program with a total capacity of 10GW across several technologies is also covered by a bigger agreement with the energy ministry of Azerbaijan, which includes this project.