Masdar to build 4 GW of clean energy in Azerbaijan
BAKU, June 8, 2022 – Masdar has signed two implementation agreements with the Ministry of Energy of Azerbaijan Republic to develop an initial 4 GW of renewable capacity in the country, the Emirati renewables company announced on Sunday.
The first exclusive concession includes building an onshore wind project and a solar project with capacities of 1 GW each. It also includes plans to study and strengthen the country’s electricity export network.
The second involves constructing integrated offshore wind and green hydrogen developments with a capacity of 2 GW.
The agreements include the rights to develop an additional 6 GW of capacity, making it the largest signing of its kind in Azerbaijan.
Masdar also signed an MoU with NOC State Oil Company of Azerbaijan for joint development of renewable energy sources.