UAE – Mubasher: Masdar has signed several agreements with the Azerbaijani government to develop clean and renewable energy projects of up to 10,000 megawatts (MW) in the country.

The renewable energy company will power Azerbaijan’s megaprojects with a capacity of 4,000 MW as an exclusive concession, with the right to develop an additional 6,000 MW as a second phase, according to a press release.

In addition, Masdar inked two implementation agreements with the Azerbaijani Ministry of Energy to develop onshore wind projects with a capacity of 1,000 MW, in addition to implementing 1,000 MW of solar photovoltaic (PV) projects. Meanwhile, the second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2,000 MW.

Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and Chairman of Masdar, noted: "These clean energy projects also demonstrate the valuable economic opportunities of the energy transition and will contribute to the energy diversification and energy security of Azerbaijan.”

Parviz Shahbazov, Azerbaijan's Minister of Energy, said: “These 4,000 MW solar, wind, and green hydrogen projects, being the largest renewable energy production capacity in the region and in our energy history, provide ample opportunities for the development of Azerbaijan as a green growth country, green energy producer, and exporter, as well as allow for involving multibillion-dollar green investment.”

It is worth noting that last April, Masdar partnered with Egypt’s Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, to develop green hydrogen plants in the Arab republic.