Masdar, SOCAR ink deal to develop 4GW RE projects in Azerbaijan
It is part of the 10GW renewable energy programme between Masdar and Azerbaijan.
Abu Dhabi-based Masdar has signed joint development agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) to develop four gigawatts (GW) of renewable projects.
In a statement, Masdar said the projects will be composed of onshore wind and solar, and integrated offshore wind and green hydrogen.
It is also the first phase of the implementation agreements signed by Azerbaijan’s Ministry of Energy in June 2021 with the company for a 10GW renewable energy programme.
Azerbaijan aims to produce 30% of its power needs from renewables by 2030.
Masdar is developing the 230-megawatt Garadagh Solar PV Plant in the country which will produce 500 million kilowatt-hours of electricity per year which will supply the needs of over 110,000 homes and cut over e200,000 tonnes of emissions per year.