Masdar Opens Office in Azerbaijan to Support Nation's Clean Energy Objectives

Abu Dhabi, Uae (ots/PRNewswire) -

- Dedicated office in Baku will enable company to strengthen support for
Azerbaijan's goal of securing 30 percent of power mix from renewable sources
by 2030
- Masdar has signed project agreements with Azerbaijan exceeding 10 GW capacity

Masdar, one of the world's fastest-growing renewable energy companies, has
pledged to strengthen its support for Azerbaijan's renewable energy development
with the opening of an office in Baku, the capital city.

The inauguration event for the office, located in Port Baku Tower, was attended
by His Excellency Mohammed Murad Al Blooshi, UAE Ambassador to the Republic of
Azerbaijan, and Javid Abdullayev, Director of Azerbaijan Renewable Energy Agency
under the Ministry of Energy, along with a delegation from Masdar, led by its
Chief Executive Officer, Mohamed Jameel Al Ramahi. Masdar will work closely with
the government and other stakeholders in Azerbaijan to accelerate the growth of
its renewable energy sector, as the country continues to take bold steps to meet
clean energy targets and transition to a low-carbon future.

HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology,
COP28 President-Designate, and Chairman of Masdar, said, "The United Arab
Emirates and Azerbaijan both recognize the importance of investing in renewable
energy to advance economic diversification, stability, and growth. Masdar's
increasing scope of work in Azerbaijan, evidenced by its new Baku office,
demonstrates the UAE's commitment to supporting decarbonization and sustainable
development around the world."

HE Mohammed Murad Al Blooshi, UAE Ambassador to the Republic of Azerbaijan,
said, "The opening of Masdar's office in Azerbaijan is a testament to the shared
ambition of the UAE and Azerbaijan toward renewables and sustainability. Our two
nations are committed to working together to create a sustainable future, and
the new office will play a critical role in supporting this important work."

Mohamed Jameel Al Ramahi, Chief Executive Officer 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 100 GW by 2030. We look forward to working with our partners in
Azerbaijan to continue to deliver world-class projects in support of the country
and its renewable energy goals."

Javid Abdullayev, Director of Azerbaijan Renewable Energy Agency, said,
"Developing our ample renewable energy potential is a strategic priority for
Azerbaijan, and we believe that working with partners like Masdar will help us