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 develop, build and operate the 200 MW solar PV project, which will be located 75 kilometres southwest of the Baku, Capital of Azerbaijan. Financial close on the project is scheduled to achieve by the end of 2020, while the commercial operation is expected to start in 2022.

The solar project supports Azerbaijan’s target of producing 30 per cent of its domestic power needs from renewable energy sources by 2030.