Azerbaijan and Masdar Launch Landmark Renewable Energy Projects Worth Over 1 GW

Azerbaijan has marked a significant milestone in its energy transition strategy with the groundbreaking of three major renewable energy facilities developed in partnership with UAE's Masdar and state oil company SOCAR. The projects represent one of the largest renewable energy investments in the South Caucasus region to date.

The consortium is developing a 445-megawatt solar plant in Bilasuvar, a 315-megawatt solar facility in Neftchala, and a 240-megawatt wind farm in the Absheron-Garadagh district. Masdar holds a 75 percent stake in the projects, with SOCAR owning the remaining 25 percent.

Energy Minister Parviz Shahbazov emphasized that these projects demonstrate Azerbaijan's commitment to energy transition. President Ilham Aliyev has announced that already-signed contracts will enable Azerbaijan to achieve 6 gigawatts of solar and wind energy capacity by 2030.

These renewable energy projects are expected to save substantial quantities of natural gas currently used for domestic electricity production, making it available for export to international markets.