BAKU, Azerbaijan, June 6. Masdar (Abu Dhabi Future Energy Company) has a solid plan to assist Azerbaijan in the transformation of its energy sector, Country Manager for Masdar in Azerbaijan Murad Sadikhov said during the "Empowering and accelerating green transition: strategies for COP29 and for Green World" panel at the 29th Baku Energy Forum, Trend reports.
"Masdar comprehensively understands how we can support the Azerbaijani government and the Ministry of Energy in revitalizing the country's energy sector. Extensive research has already been conducted. Through our collaboration with the Ministry of Energy, we have launched four significant research projects at the national level.
One of these projects involved an examination of the potential for green energy development, both domestically and internationally. We engaged leading companies and experts from various countries, whose findings affirmed Azerbaijan's substantial potential and identified numerous opportunities for increasing the renewable energy share,” he highlighted.
The manager further mentioned that another study, conducted in partnership with international experts and companies and the Ministry of Energy, assessed the current capacity of the national energy grid, identified necessary upgrades for enhanced reliability, and explored the feasibility of integrating additional renewable energy sources.
Sadikhov elaborated that the remaining two studies focused on the potential of offshore wind power and green hydrogen.
To note, over 600 delegates are participating in the forum, which began on June 5, representing a diverse range of countries including Australia, Austria, Belarus, Belgium, Bulgaria, China, the Czech Republic, Finland, France, Georgia, Hungary, India, Israel, Italy, Japan, Kazakhstan, Latvia, Monaco, the Netherlands, Norway, UAE, Qatar, Romania, Russia, Saudi Arabia, Slovenia, Sweden, Switzerland, Ukraine, the UK, the US, and Uzbekistan. This year's forum boasts a record number of speakers, totaling 81.
The Forum's agenda will address energy issues of significance for Azerbaijan and the broader Caspian region, focusing primarily on considerations and financing related to energy security, energy transition, and green energy projects.
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