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UAE company Masdar will develop 4 GW of renewables in Azerbaijan

The United Arab Emirates renewable energy company Masdar has signed agreements with Azerbaijan’s Ministry of Energy to develop renewable energy projects with a combined capacity of 4 GW in the country. The company has signed two implementation agreements, one pertaining to the development of 1 GW of onshore wind projects and 1 GW of solar PV projects. The second agreement covers integrated offshore wind and green hydrogen projects with a capacity of 2 GW. Under the terms of the agreements, Masdar can also develop an additional 6 GW for a second phase, bringing the total capacity of these projects to 10 GW. Azerbaijan already collaborates with Masdar on the construction of the 230 MW Garadagh solar PV project in Baku, which represents an investment of US$200m and is set to be completed by 2023.  

The signing of such agreements with Masdar could constitute a shift in Azerbaijan’s policies towards renewable energy. The country is still currently extremely reliant on gas (94% of the power mix in 2020), and its installed renewable capacity remains well below its original objective (only 100 MW of wind and solar installed at the end of 2020 compared to a target of 1.4 GW).

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