Masdar has signed two implementation agreements with the Ministry of Energy of the Republic of Azerbaijan to develop clean and renewable energy projects in Azerbaijan.

The combined capacity of the projects will be 4,000 MW with the right to develop an additional 6,000 MW as a second phase. The first agreement incorporates the development of 1,000 MW of onshore wind projects and 1,000 MW of solar photovoltaic projects, including measures to study and strengthen the network and implement processes for electricity export. The second agreement covers 2,000 MW of integrated offshore wind and green hydrogen projects, including measures to create wind power for production and export purposes, decarbonization, hydrogen production, and export.