Masdar, SOCAR to co-develop 4 GW of renewable energy projects
Masdar and the State Oil Company of the Republic of Azerbaijan (SOCAR) have signed collaborative development agreements for 4 GW of renewable energy projects in the country. The portfolio includes solar and onshore wind as well as the offshore wind with green hydrogen integration.
In June 2022, Masdar inked implementation agreements with the Ministry of Energy of Azerbaijan to construct a bilateral renewable energy initiative with a total capacity of 10 GW across various technologies.
As part of its efforts to diversify its economy and reduce greenhouse gas emissions, Azerbaijan has set a national goal of providing 30% of its domestic power needs from renewable energy sources by the year 2030.
Country updates
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November 23, 2022
Mubadala buys stake in AirCarbon Exchange
Mubadala Investment Company PJSC (Mubadala) and AirCarbon Exchange (ACX) have finalized a transaction in which Mubadala has purchased a share in ACX, enabling ACX to construct the first fully regulate...
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November 15, 2022
Alcazar Energy Partners II reaches US$336.6m first close
Alcazar Energy Partners II (AEP II), a sustainable infrastructure fund focused on utility-scale renewable energy projects in emerging markets, has reached the first closure of US$336.6 million. T...
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October 27, 2022
DEWA extends deadline of EOI tender for Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park
The Dubai Electricity and Water Authority (DEWA) of the United Arab Emirates (UAE) have extended the deadline for receiving the Expressions of Interest (EOI) from the international developers to...
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October 21, 2022
Masdar, EDF to develop 7 MWp solar PV project in Abu Dhabi
Emerge, a joint venture between Masdar and EDF Group, has signed an agreement to develop a 7 MWp ground-mounted solar photovoltaic (PV) project for Khazna Data Centers in Abu Dhabi, UAE. Emerge...
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October 05, 2022
Ducab Group to supply cables for 2 GW Solar PV project in UAE
Ducab Group has secured a contract to supply and install 400-kV cables and accessories for the Al Dhafra solar plant in Al Dhafra, Abu Dhabi, UAE.
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