ASTANA, Kazakhstan, June 8. Masdar wants to support Azerbaijan in green hydrogen production, and its further export to the European market, Al Ramahi Mohamed Jameel, CEO of Masdar, told Trend on the sidelines of the Astana International Forum (AIF 2023).
“We have signed an agreement with the Ministry of Energy to assess the possibility of producing green hydrogen in Azerbaijan and potentially exporting that green hydrogen to Europe. So, we are already very actively engaged with the Azerbaijani side in this field,” he said.
Masdar CEO noted that, currently, the initiative is in the stage of studies and analyses.
“After that we will assess the possibilities. And then after that, we will look at the building and construction. We believe strongly in the potential. This is why we have signed this agreement with the Ministry of Energy. In fact, we did not only sign, but we have started the studies, so we believe in the potential. The hydrogen economy is a long-term thing. The hydrogen economy is an economy that will come in the future. But to make sure that you are well-positioned for the future you need to start today,” he noted.
According to the CEO of Masdar, the project portfolio in Azerbaijan is already quite big.
“We signed a program of almost 10 GW, and from that we are focusing now on 4 GW, and from the 4 GW we also shortening to 1 GW. The first phase of this development will be inaugurated this year. So the first solar farm will be commissioned this year. And then we will start to develop the projects across the country,” he explained.