Masdar to develop 4 GW of clean energy projects in Azerbaijan
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.
Country updates
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March 21, 2022
Masdar starts construction of 230 MW solar project in Azerbaijan
Masdar, a subsidiary of Mubadala Development Company, has started the construction of its 230 MW solar photovoltaic project located in Garadagh in the Baku region of Azerbaijan.
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January 05, 2021
ACWA Power signs deals for 240 MW wind project in Absheron and Khizi regions
Following the signing of the implementation agreement for the US$300 million Independent Power Project in January 2020, ACWA Power has executed official agreements for the 240 MW wind power project th...
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January 05, 2021
ACWA Power signs PPA for 240 MW onshore wind farm in Azerbaijan
Following the signing of the implementation agreement for the US$300 million Independent Power Project in January 2020, ACWA Power executed the official agreements for the 240 MW wind power project th...
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January 22, 2020
ACWA Power signs implementation agreement to develop a 240 MW wind power project
ACWA Power has signed an implementation agreement with the Ministry of Energy of Azerbaijan for developing, building and operating a 240 MW wind power project. The power purchase agreement (PPA) of th...
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January 17, 2020
Masdar to develop the 200 MW solar PV project in Baku
Masdar has signed an agreement with the Ministry of Energy of the Republic of Azerbaijan to design, finance, build and operate a 200 MW solar PV project in Baku. Under the agreement, Masdar will deve...
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