Abu Dhabi Future Energy Company, known as Masdar, has signed an agreement with Azerbaijan Green Energy Company to advance renewable energy projects in Azerbaijan. This development was reported by ARN News.
The agreement was formalised in Baku, with the participation of Azerbaijan’s President Ilham Aliyev and His Highness Sheikh Tahnoon bin Zayed Al Nahyan, the Deputy Ruler of Abu Dhabi and National Security Adviser of the UAE.
Under the terms of the partnership, Masdar plans to expand its existing 230-megawatt (MW) Garadagh Solar PV project by at least 350 MW. Additionally, the project will incorporate a battery energy storage system capable of storing up to 200 megawatt-hours (MWh).
Furthermore, a new 100 MW round-the-clock renewable energy project is also in the pipeline. This initiative is part of Masdar’s broader strategy to enhance its renewable energy footprint in Azerbaijan.
In conjunction with this agreement, Masdar and SOCAR Green, a subsidiary of Azerbaijan’s state oil company, have reached financial closure on the 315 MW Neftchala solar project. This project is anticipated to generate sufficient clean electricity to power approximately 140,000 homes, significantly contributing to carbon emissions reduction.
Masdar has established a robust presence in Azerbaijan, having entered the market with the Garadagh project, which was inaugurated in 2023. The company has been actively supporting Azerbaijan’s clean energy ambitions for over a decade, boasting a portfolio exceeding 1.2 gigawatts (GW) across the country.
This latest agreement underscores Masdar’s commitment to fostering sustainable energy solutions in Azerbaijan and aligns with the UAE’s broader goals of enhancing renewable energy capacity in the region.
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