The Emirati renewable company Masdar has signed investment agreements for onshore wind and solar projects in Azerbaijan totalling 1 GW. The deals, which are part of a plan to develop 10 GW of renewables in Azerbaijan, concern one onshore wind and two solar projects. The announcement follows the inauguration of Masdar's first solar power plant in Azerbaijan, namely the 230 MW Garadagh solar park, which is expected to produce 500 GWh/year of power, enough to supply 110,000 Azeri households.
In January 2023, Azerbaijan’s State Oil Company (SOCAR) and Masdar entered into a partnership to develop renewable projects in Azerbaijan, including 2 GW of offshore wind and green hydrogen projects, as well as 1 GW of onshore wind and 1 GW of solar PV projects.
Azerbaijan aims generate more than 30% of its electricity from renewables by 2030 (less than 6% in 2021, while gas represented 94%).
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