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Azerbaijan Investment Company and Masdar sign Memorandum of Understanding on construction of “Waste to Energy” plant in Azerbaijan

Azerbaijan Investment Company OJSC (AIC) and Abu Dhabi Future Energy Company, Masdar, signed a Memorandum of Understanding on a “Waste to Energy” project during the groundbreaking ceremony for the 230 MW solar power plant being built in Azerbaijan by Masdar. The agreement was signed by Ulvi Mansurov, Executive Director of Azerbaijan Investment Company, and Mohammad Jameel Al Ramahi, Chief Executive Officer of Masdar.

The main purpose of the project initiated by the Azerbaijan Investment Company is to generate energy from waste disposal using environmentally friendly technologies.

Based on the initial analysis conducted by Masdar, the processing capacity (waste utilization) of the plant, which is planned to be located in the Western region (Ganja), is estimated at 300,000 tons per year.

Masdar was established in 2006 in the United Arab Emirates, and today is one of the world’s leading renewable energy companies, active in more than 40 countries. The company is currently implementing Waste to Energy projects in Australia and the UAE.