Masdar and SOCAR pave the way for 1GW energy projects.

By Oliver Townsend Jun 5, 2024
Masdar and SOCAR Break Ground on 1GW Renewable Energy Projects in Azerbaijan, Marking a Major Milestone in Green Energy Expansion.jpegOrginal image from:

Masdar and the State Oil Company of Azerbaijan (SOCAR) have broken ground on three significant solar and wind projects in Azerbaijan, marking a major milestone in green energy expansion. The projects total 1 gigawatt (GW) in capacity and showcase the ongoing partnership between Masdar and Azerbaijan. The groundbreaking ceremony, held during the Baku Energy Week, was attended by key figures including Azerbaijan’s President and UAE’s Minister of Industry.

Partnership for Sustainable Growth

The projects consist of the 445MW Bilasuvar Solar PV Project, the 315MW Neftchala Solar PV Project, and the 240MW Absheron-Garadagh Onshore Wind Project. Agreements for these projects were finalized in October 2023 and signify a commitment to renewable energy in Azerbaijan.

Collaboration for a Greener Future

Masdar and SOCAR also signed a Shareholder Agreement during the Baku Energy Week, emphasizing the importance of their partnership. The projects aim to triple Azerbaijan’s renewable energy capacity by 2030, aligning with the UAE Consensus goal and supporting a sustainable energy transition.

Leadership in Clean Energy

HE Dr. Sultan Al Jaber highlighted the significance of the partnership, emphasizing the role of collaborations in driving impactful change in the energy sector. Azerbaijan’s Minister of Energy and SOCAR’s Supervisory Board Chairman also underlined the strategic importance of the projects in advancing the country’s clean energy vision.

Strategic Expansion and Vision

Masdar CEO Mohamed Jameel Al Ramahi reiterated the company’s commitment to developing up to 10GW of clean energy in Azerbaijan by 2030. The groundbreaking follows the completion of the 230MW Garadagh solar plant, Azerbaijan’s largest independent solar project.

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