Masdar, SOCAR Green and ACWA to development offshore wind projects in Azerbaijan

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Memorandum of Understanding (MoU) with SOCAR Green, a wholly-owned subsidiary of SOCAR dedicated to sustainable projects, and Saudi-listed ACWA Power to develop 3.5 gigawatts (GW) of offshore wind projects in the Azerbaijan section of the Caspian Sea.

Under the agreement, the signing parties will follow a Corporation Roadmap to identify key development milestones they want to achieve in the development of offshore wind in the country.

The new offshore wind projects will contribute to Azerbaijan’s growing renewable energy portfolio and complement Masdar’s existing projects, which include Masdar’s landmark 230MW capacity Garadagh solar power plant, along with the 315MW Neftchala Solar Power Plant and 445MW Bilasuvar Solar Power Plant, both jointly developed with SOCAR Green; and ACWA Power’s 240MW Khizi-Absheron wind power plant.

These initiatives are designed to enhance energy security, create jobs and drive sustainable economic growth in Azerbaijan. This aligns with the consortium’s commitment to support Azerbaijan’s transition to net-zero emissions by 2050.