Masdar signs deals for 1 GW of wind, solar in Azerbaijan

UAE-based renewables company Masdar has inked investment agreements for onshore wind and solar projects with a combined capacity of 1 GW in Azerbaijan as part of a plan to deploy 10 GW of renewables in the country.

The deals concern one onshore wind and two solar projects and follow the inauguration of Masdar's first solar power plant in Azerbaijan -- the 230-MW Garadagh solar park. The facility is expected to produce 500 billion kWh of electricity annually which is enough to meet the needs of more than 110,000 homes and offset carbon dioxide emissions by more than 200,000 tonnes a year.

Following the inauguration, Azerbaijan's energy minister Parviz Shahbazov commented: "[...] The commissioning of the largest solar power plant based on the first foreign investment in our energy history, as well as the signing of investment agreements for the implementation of solar and wind energy projects with a capacity of 1000 MW, show that our country's green energy and green investment plans are successfully becoming a reality."

The initial phase of Masdar's ambitious plan in Azerbaijan includes 1 GW of solar photovoltaic, 1 GW of onshore wind and 2 GW of integrated offshore wind and green hydrogen schemes for which the company has exclusive concession. It supports the country's goal to generate more than 30% of the electricity it needs from renewables by 2030.

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