Masdar to develop 4 GW of clean energy projects in Azerbaijan

Date June 16, 2022
Type Projects
Subtype MOU signature
Countries Azerbaijan
Subsectors Photovoltaic Onshore Wind
Contracting Authorities Ministry of Energy of the Republic of Azerbaijan
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Masdar has signed implementation agreements with the Ministry of Energy of the Republic of Azerbaijan to develop clean and renewable energy projects in the country with a combined capacity of 4 GW.

The projects will be implemented under an exclusive concession, with an option to develop an additional 6 GW in a second phase, bringing the total production capacity to 10 GW. Masdar has signed two implementation agreements, one for the development of 1,000 MW onshore wind projects and the other for 1,000 MW solar photovoltaic (PV) projects. The second agreement covers 2,000 MW of integrated offshore wind and green hydrogen projects.

Masdar has also signed a Memorandum of Understanding (MoU) with the State Oil Company of Azerbaijan Republic (SOCAR) for the collaborative development of renewable energy sources.

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