Abu Dhabi-based Masdar has signed implementation agreements with the Ministry of Energy of Azerbaijan to develop clean and renewable energy projects in the country with a combined capacity of 4,000 MW as an exclusive concession, with the right to develop an additional 6,000 MW as a second phase, thus bringing the total production capacity of these projects to 10,000 MW – the largest such signing in Azerbaijan’s history.

One of the world’s leading renewable energy companies, Masdar said it has signed two implementation agreements, one relating to the development of onshore wind projects with a capacity of 1,000MW, and 1,000MW of solar photovoltaic (PV) projects.

The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000MW, said the statement from the Emirati group.

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

Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said: "The 4,000MW of renewable energy projects announced today reinforce the close relationship between UAE 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 the energy diversification and energy security of Azerbaijan. Today's announcement also underscores the UAE and Masdar’s position as a global leader in renewable energy, as we progress our strategy toward a portfolio of at least 100 GW globally," he stated.

Shahbazov said: "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," he noted.

The agreement for onshore wind and solar projects includes 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, he added.

At the same event, Masdar also signed a MoU with the state oil company Socar for the joint development of renewable energy sources in Azerbaijan.

Abu Dhabi renewable energy company Masdar has reached an agreement with Azerbaijan to develop clean energy projects in the country with a total 4,000MW capacity as an exclusive concession, with the right to develop an additional 6,000 MW as a second phase.

Abu Dhabi-based Masdar has signed implementation agreements with the Ministry of Energy of Azerbaijan to develop clean and renewable energy projects in the country with a combined capacity of 4,000 MW as an exclusive concession, with the right to develop an additional 6,000 MW as a second phase, thus bringing the total production capacity of these projects to 10,000 MW – the largest such signing in Azerbaijan’s history.

One of the world’s leading renewable energy companies, Masdar said it has signed two implementation agreements, one relating to the development of onshore wind projects with a capacity of 1,000MW, and 1,000MW of solar photovoltaic (PV) projects.  The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000MW, said the statement from the Emirati group.

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

Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said: "The 4,000MW of renewable energy projects announced today reinforce the close relationship between UAE 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 the energy diversification and energy security of Azerbaijan. Today's announcement also underscores the UAE and Masdar’s position as a global leader in renewable energy, as we progress our strategy toward a portfolio of at least 100 GW globally," he stated.

Shahbazov said: "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," he noted.

The agreement for onshore wind and solar projects includes 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, he added.

At the same event, Masdar also signed a MoU with the state oil company Socar for the joint development of renewable energy sources in Azerbaijan.

In March, Masdar’s CEO Mohamed Jameel Al Ramahi attended the groundbreaking ceremony for Masdar’s 230 MW Garadagh Solar PV Plant in Azerbaijan.

The plant, expected to start commercial operation in 2023, 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 also creating valuable jobs.