Masdar Collaborates with AGEC on Renewable Energy Expansion in Azerbaijan
Masdar has signed an agreement with the Azerbaijan Green Energy Company (AGEC) to explore new renewable energy opportunities, including expanding its existing Garadagh solar plant by at least 350MW and adding a battery storage system. The collaboration also includes evaluating potential for a round-the-clock renewable project in line with Masdar's broader strategy. Separately, Masdar has reached financial close on the Neftchala solar PV project alongside SOCAR Green, supported by major multilateral lenders. This 315MW facility is expected to supply power to around 140,000 homes and reduce carbon emissions significantly each year. Combined with other projects like Bilasuvar and Absheron-Garadagh, Masdar's total renewable capacity in Azerbaijan now exceeds 1.2GW. Masdar has a global portfolio of over 65GW across various technologies and continues to expand its presence in key markets through strategic partnerships.
Topics: international collaboration renewable energy solar power