Masdar to develop up to 10GW of renewables in Azerbaijan in two phase agreement

Facebook
Twitter
LinkedIn
Reddit
Email
Masdar is targeting 50GW of renewable capacity by 2030. Image: Masdar.

UAE-owned renewable energy company Masdar has penned an agreement with the Ministry of Energy of the Republic of Azerbaijan to develop up to 10GW of renewables in the country as Masdar continues to expand its international presence.

Announced yesterday, the agreement, which Masdar said was the “largest such signing in Azerbaijan’s history”, will see the company develop both solar and wind projects with a combined capacity of 4GW, with the right to develop an additional 6GW in a later second phase.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Two implementation agreements have been signed for the first phase. The first related to 1GW of solar PV and 1GW of onshore wind projects. The second covers integrated offshore wind and green hydrogen projects with a capacity of 2GW. Details on the second phase were not disclosed.

“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 100GW globally,” Sultan Ahmed Al Jaber, minister of industry and advanced technology and chairman of Masdar, said.

Under the agreement, meanwhile, Masdar will explore opportunities to “implement processes for the export of electricity”, it said in a media statement, adding that the second phase also includes measure to export power outside of Azerbaijan.

Masdar – which is targeting 50GW of renewables by 2030 – has signed a number of notable international projects this year. In April, it signed a Memorandum of Understanding (MoU) with Kyrgyzstan’s Ministry of Energy to explore the development of 1GW of renewables, and in January it set up a new joint venture (JV) to focus on developing renewables across Eastern Europe, Central Asia and Africa with an initial pipeline of 8GW.

Finally, also in January, Masdar signed an MoU with three other energy companies to develop 1.2GW of solar in Indonesia that is intended to export electricity to Singapore.

The above announcements followed a restructuring of the company’s ownership. In December last year, the UAE government announced Abu Dhabi energy companies TAQA, ADNOC and Mubadala would join forces as shareholders in Masdar.

Read Next

July 15, 2025
Malaysian utility company Tenaga Nasional Berhad has officially launched a floating solar pilot project, which could help unlock 2.2GW of generation capacity.
July 15, 2025
Ingeteam has expanded its footprint in Australia by announcing it will supply the 243MWp Maryvale Solar and Energy Storage Project in New South Wales.
July 14, 2025
Australian renewables developer Edify Energy has submitted plans for a 300MWac solar-plus-storage site in Victoria to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 14, 2025
ACWA Power has signed power purchase agreements (PPAs) with Saudi Power Procurement Company (SPPC) for five solar PV projects in the country.
July 14, 2025
Elements Green has secured €80 million (US$93.5 million) in financing from Danish investment firm Copenhagen Infrastructure Partners (CIP).
July 14, 2025
Solar and storage developer MN8 Energy has raised US$575 million to refinance three PV projects in North Carolina, Kentucky and Illinois.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK