UAE-based clean energy leader Masdar is set to invest more than $1.2 billion in Azerbaijan’s renewable energy sector, announced Maryam Al Mazrouei, Head of Development and Investment for the CIS region at Masdar, during the inaugural Azerbaijan International Investment Forum (AIIF 2025) in Baku, as reported by Report.
Al Mazrouei highlighted that Masdar’s partnership with Azerbaijan began in 2018 through collaboration with the Ministry of Energy, leading to the successful operation of the country’s first major renewable energy project—a 230 MW solar power plant—for nearly two years. In 2024, during Baku Energy Week, Masdar and Azerbaijan’s state oil company SOCAR signed a landmark agreement to develop an additional 1 GW of renewable capacity. This includes two solar power plants under construction in Bilasuvar and Neftchala, alongside a 240 MW onshore wind farm.
“These projects collectively represent an investment of approximately $1.2 billion,” Al Mazrouei stated. She also revealed that Masdar is exploring further opportunities, including a “green energy” corridor to export electricity to Europe, which is expected to open new avenues for investors and strengthen Azerbaijan’s role in sustainable energy markets.
https://report.az/en/energy/masdar-to-invest-over-1-2b-in-azerbaijan-s-renewable-energy-sector