“Currently, Masdar is implementing two solar power plant projects in Azerbaijan with a total installed capacity of 760 megawatts. At the same time, work is underway on a 240-megawatt wind power plant project. This will be Masdar’s first wind power plant project in Azerbaijan. The project is presently at the financing stage, and negotiations with banks are ongoing. God willing, the financial issues will be resolved this year,” Maryam Al Mazrouei, Head of Development and Investment for CIS countries at Masdar, told AZERTAC.
Describing Azerbaijan as an important strategic country for both the United Arab Emirates and Masdar, Al Mazrouei noted that Masdar’s first investment project in Azerbaijan — the 230-megawatt Garadagh Solar Power Plant — was launched in 2022.
She emphasized that Azerbaijan is rich in solar and wind energy potential, noting that this is one of the reasons Baku is often referred to as the “city of winds.” According to Al Mazrouei, Azerbaijan has significant clean energy opportunities and aims to export green energy to Europe. In this context, Azerbaijan’s Ministry of Energy is holding discussions with a number of countries in the region.
She also pointed out that discussions are ongoing between Azerbaijan, Kazakhstan, and Uzbekistan regarding the export of renewable energy. “Azerbaijan has broad opportunities both for domestic energy consumption and for export. The country has regions with strong solar energy potential, such as Nakhchivan, as well as areas with considerable wind energy resources,” she added.
Highlighting that Masdar is holding negotiations with Azerbaijan to expand cooperation in renewable energy projects, Al Mazrouei said the company plans to implement an “around-the-clock” (24/7) renewable energy generation project in Azerbaijan. She noted that this project has already been launched in Abu Dhabi and is currently at the construction stage.
