Masdar and SOCAR Break Ground on 1 GW Solar and Wind Project in Azerbaijan

UAE-based renewables developer Masdar and the State Oil Company of Azerbaijan Republic (SOCAR) have held a groundbreaking ceremony for three renewable energy projects in Azerbaijan totalling 1 GW.

This happened at the opening ceremony of Baku Energy Week, on the sidelines of which the two companies also signed shareholder agreements in connection with the three projects -- two solar photovoltaic (PV) parks and one wind farm.

More specifically, Masdar and SOCAR will partner for the 445-MW Bilasuvar and 315-MW Neftchala solar projects, as well as the 240-MW Absheron-Garadagh onshore wind farm. Masdar had already sealed investment and power purchase agreements (PPAs), as well as transmission connection and land lease deals.

"Azerbaijan is a key strategic market for Masdar. With this groundbreaking of 1 GW wind and solar projects, in partnership with SOCAR, we take a significant step forward in realizing our ambitious plan to develop up to 10 GW of clean energy by 2030 in Azerbaijan," Masdar CEO Mohamed Jameel Al Ramahi stated.

According to a previous announcement, the initial phase of Masdar's ambitious plan in Azerbaijan includes 1 GW of solar PV, 1 GW of onshore wind and 2 GW of integrated offshore wind and green hydrogen projects for which the company has exclusive concession.

Last October, Masdar energised its 230-MW Garadagh solar park in Azerbaijan.