In January 2020, Masdar signed an implementation agreement to develop a utility-scale solar photovoltaic (PV) project in the Republic of Azerbaijan. The 230-megawatt (MWac) Garadagh (Area 60) Solar PV Plant is the country’s first foreign investment-based independent utility scale solar project structured as a public-private partnership.
Masdar signed the Investment Agreement with the Government of the Republic of Azerbaijan, and Power Purchase Agreement and Transmission Connection Agreement with state power company Azerenerji OJSC in April 2021.
The project entailed developing, financing, constructing, and operating the 230MWac PV plant, located nine kilometers northwest of the Alat settlement in the Republic of Azerbaijan. The plant is started commercial operation in October 2023.
The project generates half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 homes, and will reduces emissions by 200,000 tonnes a year. The solar power plant has also created new jobs for the local community.
Azerbaijan is targeting to increase its installed power capacity to 30 percent from renewable sources by 2030, as the country looks to diversify its economy and reduce greenhouse gas emissions.
Project Completion Year