Masdar, Azerbaijan
In January 2020, Masdar signed an agreement to develop a large-scale solar photovoltaic (PV) project in Azerbaijan. This 230-megawatt Garadagh Solar PV Plant, Azerbaijan's first foreign-invested, independent utility-scale solar project, is a significant public-private partnership.
Masdar, in April 2021, entered into an Investment Agreement with Azerbaijan's government, and a Power Purchase Agreement and Transmission Connection Agreement with Azerenerji OJSC, the state power company.
Located near Alat, this 230MWac PV plant began commercial operations in October 2023. It produces around half a billion kilowatt-hours of electricity yearly, enough for over 110,000 homes, and reduces emissions by 200,000 tonnes annually. It also brought new job opportunities to the local community.
Aiming to diversify its economy and lower greenhouse gas emissions, Azerbaijan targets to increase its renewable energy capacity to 30% by 2030.