Masdar Signs Joint Development Agreement with Socar for Hybrid Projects

The agreements were signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Rovshan Najaf, President of SOCAR, on the sidelines of Abu Dhabi Sustainability Week, the global platform for accelerating sustainable development hosted by Masdar.

HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, and HE Mikayil Jabbarov, Minister of Economy for Azerbaijan, witnessed the signing.

HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, said, "These agreements will serve to strengthen the already powerful relationship between the United Arab Emirates and the Republic of Azerbaijan, and are a testament to our shared commitment to diversifying our energy mix and developing low- and zero-carbon solutions.  As global leaders gather here in the UAE for Abu Dhabi Sustainability Week, we are demonstrating the power of partnership and cooperation in advancing the inclusive energy transition and I look forward to seeing more announcements being made at ADSW. "

Mohammed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, "Masdar sees Azerbaijan as a key strategic partner, one we are proud to support in its clean energy journey. This signing marks a milestone on the development and delivery of a significant collaboration that will advance Azerbaijan's renewable energy goals and support its ongoing sustainable economic development."