On October 26, an official inauguration of the 230 MW Garadagh Solar PV Plant has been held. Ilham Aliyev, the President of Azerbaijan, attended the ceremony, the Press Office of the Azerbaijani President reported.

Regarding the projects, Aliyev noted: "As I said, three investment agreements will be signed today, but our plans are much broader. We plan to work together to produce up to 10 gigawatts of renewables in phases. That will be a total revolution in the region's energy development because Azerbaijan is a country where the first oil in the world was produced in the middle of the 19th century. The first oil from offshore fields was produced in the middle of the last century. And now, considering that we are still rich in fossil fuel resources, we are moving towards a green agenda. This is a deliberate choice. This is our contribution not only to the future development of Azerbaijan but to the issues related to climate change."

Speaking about the renewable energy agenda, the Azerbaijani leader emphasized, "At the same time, I would like to inform you that our renewable energy agenda is not limited only to solar or wind power stations. We are actively developing our hydro energy potential in the territories liberated three years ago - Karabakh and East Zangezur. We have already commissioned hydropower stations with a capacity of 170 megawatts. By the end of next year, it will already be 270 megawatts. Within two to three years, it will be 500 megawatts of hydropower station, another important contribution to the green energy transition. In general, Karabakh, East Zangezur, and Nakhchivan have already been declared a green energy zone. There is a significant potential to use our natural resources, one of which is apparently the wind. Because wind has always been a source of some problems, especially when landing. But now wind is a natural resource. So, it was maybe difficult to imagine some 10-20 years ago. But now, it is the case, and the wind in the Caspian is much stronger. And even today, here at this venue, the wind demonstrates that this potential is here."

About the energy relations with Europe, he stated: "Azerbaijani gas is needed more than ever in Europe due to recent geopolitical changes." Aliyev stressed, "We have commissioned major transportation infrastructure on time, 3,500 kilometers gas pipeline from Caspian offshore fields to Europe. And that will be another contribution to the energy security of the broader region. Of course, among our plans is to work actively with our partners to create an energy corridor - Caspian-EU Energy Corridor. Last December, a corresponding agreement was signed. We have already started our activity. The steering committee has already gathered a couple of times. In several months, we will have a complete feasibility study of the new energy security project – Green Energy Corridor, integrated transmission production and consumption facilities, including the electric cable under the Black Sea. Currently, the feasibility study is being prepared for 4 gigawatts of renewables."

On the same day, a ceremony of signing documents between the Government of Azerbaijan and Masdar Company of the United Arab Emirates was held with the participation of the President of Azerbaijan Ilham Aliyev.

Azerbaijan's Minister of Energy Parviz Shahbazov, Azerbaijan's Minister of Economy, Chairman of the Supervisory Board of SOCAR Mikayil Jabbarov, and Chief Executive Officer of Masdar company of the United Arab Emirates Mohamed Jameel Al Ramahi signed the "Investment Agreement relating to Banka settlement of Neftchala district Solar PV Project in the Republic of Azerbaijan between the Government of Azerbaijan and Abu Dhabi Future Energy Company – Masdar," "Investment Agreement relating to Bilasuvar district Solar PV Project in the Republic of Azerbaijan between the Government of the Republic of Azerbaijan and Abu Dhabi Future Energy Company – Masdar," and "Investment Agreement relating to the Absheron-Garadagh region Onshore Wind Project in the Republic of Azerbaijan between the Government of the Republic of Azerbaijan and Abu Dhabi Future Energy Company – Masdar."

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