Masdar signs renewable energy agreements to develop 4,000 MW of clean energy with Azerbaijan

Under this, Masdar also has the right to develop an additional 6,000 MW as a second phase, bringing the total production capacity of these projects to 10,000 MW – the largest such signing in Azerbaijan’s history.

Masdar signed two implementation agreements for developing onshore wind projects with a capacity of 1,000 MW, and 1,000 MW for solar photovoltaic (PV) projects. The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000 MW

The implementation agreements were signed by Parviz Shahbazov, Azerbaijan's Minister of Energy, and Fawaz Al Muharrami, Acting Executive Director of Masdar Clean Energy, signing on behalf of Masdar, at an event in Shusha, held as a special session of Baku Energy Week.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Chairman of Masdar, said, "The 4,000 MW of renewable energy projects announced today to reinforce the close relationship between the United Arab Emirates and Azerbaijan and are a testament to our shared commitment to progressive climate action. These clean energy projects also demonstrate the valuable economic opportunities of the energy transition and will contribute to Azerbaijan's energy diversification and security.”

Shahbazov also chimed in on a hopeful note, "Today we are going to sign mega projects with Masdar in accordance with the green energy course of the President of Azerbaijan, which defines renewable energy sources as a strategic priority for the country's development. These 4,000 MW solar, wind, and green hydrogen projects, being the largest renewable energy production capacity in the region and in our energy history, provide ample opportunities for the development of Azerbaijan as a green growth country, green energy producer and exporter, as well as allow for involving multibillion-dollar green investment.

These onshore wind and solar projects will also talk of measures to study and strengthen the network and implement processes for the export of electricity. The second agreement includes measures to create wind power for production and export purposes, decarbonization, hydrogen production, and export.

At the same event, Masdar also signed a Memorandum of Understanding (MoU) with the State Oil Company of Azerbaijan Republic (SOCAR) for the joint development of renewable energy sources.

The plant is expected to start commercial operation in 2023, and will help to generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 homes, and will reduce emissions by more than 200,000 tonnes a year while increasing employability rates