Discussions underway for solar photovoltaic project of the UAE in Azerbaijan

UAE's Masdar company in Azerbaijan has an agreement with the Ministry of Enery of Azerbaijan to design, finance, build and operate a 200-megawatt utility-scale solar photovoltaic project.

Mohamed Al Qubaisi, Ambassador of the UAE in Azerbaijan said,

“First of all, I would like to stress the significance of this agreement. Masdar Company is one of the world’s leading renewable energy companies. And Azerbaijan’s renewable energy sector is a very promising area. From this aspect, the Agreement is a great success opening up new perspectives for the progressive cooperation between our countries. Under the agreement, Masdar will develop, build and operate the 200MW solar PV project,”

He also mentioned that the UAE aims to increase mutual investments with Azerbaijan in new areas of economy, he also noted that Azerbaijan is a rapidly developing country with a favorable business environment.

Al Qubaisi said that the embassy is committed to create the necessary conditions to assist the businessmen from both sides to meet and explore the opportunities in order to increase the cooperation between the two countries.

Alqubaisi also said.

“And the Embassy thanks His Highness President Ilham Aliyev for His support to us in this area, also we express our gratitude to the Azerbaijani Government and all relevant authorities,”