•  
  •  
  •  

Masdar to work on 200-MW solar project in Azerbaijan

Deal signing ceremony. Image by: Masdar (www.masdar.ae).

January 13 (Renewables Now) - Abu Dhabi Future Energy Company PJSC, better known as Masdar, has inked a deal with the government of Azerbaijan for a 200-MW solar project in the country, the UAE group said on Friday.

As part of the implementation agreement, Masdar will design, finance, build and operate the photovoltaic (PV) park, 75km southwest of the capital Baku. Slated for commissioning in 2022, the project is expected to reach financial close at the end of this year.

“Today’s signing marks a major step forward for Azerbaijan and its ambitions to diversify its energy mix,” said Mohamed Jameel Al Ramahi, Masdar’s CEO. The former Soviet republic has set a goal to produce 30% of its power from renewables by 2030.

Masdar’s partnership with the Azerbaijani government was announced together with another renewables deal by Saudi Arabia's ACWA Power. The latter said in a separate press release it will develop, build and operate a 240-MW wind park in Azerbaijan.

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription