After Masdar opened a new office in Baku, Azerbaijan, Hydrogen Industry Leaders analyses how important this is to support its green hydrogen and clean energy projects.
The new office, announced by Masdar, highlights the commitment of Azerbaijan to secure 30% of its power mix from renewable sources by 2030 and collectively reduce greenhouse gas emissions.
Speaking about the new development Mohamed Jameel Al Ramahi, CEO of Masdar, said, “The opening of our new office in Baku is a testament to Azerbaijan’s increasing focus on renewable energy and Masdar’s growing global portfolio, which we have pledged will reach 100GW by 2030.”
This comes off the back of previous developments in 2023, where Masdar signed joint development agreements for onshore wind and solar projects and integrated offshore wind multiple green hydrogen projects with a total combined capacity of 4GW.
The agreement was signed with the State Oil Company of the Republic of Azerbaijan (SOCAR), and aligns with national targets.
Overall, Masdar aims to achieve 100GW of renewable energy capacity and one million tonnes of green hydrogen production per year by 2030.