BAKU, Azerbaijan, October 2. Masdar, the UAE-based renewable energy company, is actively expanding its presence in the Central Asian market, with ambitious plans to reach 100 gigawatts (GW) of clean energy capacity by 2030, Maryam Al Mazrouei, Head of Business Development and Investment for the CIS region at Masdar, said at the KAZENERGY Forum in Astana, Trend reports.
"Today, we are present in more than 40 countries. We have a project portfolio of over 50 gigawatts across different continents. And as you clearly mentioned, the leadership has set a target for us to achieve 100 gigawatts by 2030. So we are on that path to achieve the target," Al Mazrouei said.
She emphasized the strategic importance of Central Asia and the CIS region for Masdar, highlighting the company’s role as a pioneer in the market. "The Central Asian CIS is a core market for us. We've entered this market early on, and we were the first mover in this region. And we're very proud that we were the first mover. We encourage other companies and other investors as well to come and explore a region that is rich with solar and wind resources," she said.
Al Mazrouei detailed Masdar’s activities in Uzbekistan and Azerbaijan. "We started in Uzbekistan as our first mover. Today we already have 2 GW of projects. So we deployed around $2 billion in Uzbekistan. We're also very active in Azerbaijan. We started 2018 as well, and we're very proud that we also developed the first utility-scale project in Azerbaijan, where currently our portfolio capacity is around 1.2 GW. So that's around as well over $1 billion," she added.