Utility-scale solar developer Masdar is set to develop two new solar projects in Azerbaijan.
Azerbaijan Energy Minister Parviz Shahbazov said the three projects will generate 2.3 billion kWh of electricity per year.
“Laying the foundation of 3 stations with a capacity of 1 GW is not only a first in the field of green energy in Azerbaijan, but also a bright indicator of our solidarity and commitment to the energy transition,” said Shahbazov.
Masdar completed a 230 MW solar plant in Garadagh, near Baku, in October 2023. It is Azerbaijan’s first foreign investment-based independent solar project and currently the largest PV plant in the Caspian region. Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said Azerbaijan is a “key strategic market” for the company.
Azerbaijan has set a target of generating 30% of its energy capacity from renewables by 2030. The country’s total solar capacity reached 282 MW at the end of last year, according to figures from the International Renewable Energy Agency (IRENA). Azerbaijan’s first-ever solar auction, for a 100 MW project, launched earlier this year.
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