UAE’s Masdar powers up Azerbaijan’s green transition with major investment

The UAE-based renewable energy giant Masdar has reaffirmed its long-term commitment to Azerbaijan’s green energy sector, announcing plans to invest more than $1.2 billion in new and ongoing renewable energy projects across the country.

The announcement was made by Maryam Rashed Al Mazrouei, the Head of Business Development and Investment for the CIS region at Masdar, during the First Azerbaijan International Investment Forum (AIIF 2025) in Baku, Caliber.Az reports per local media.

Al Mazrouei highlighted that Masdar’s strategic partnership with Azerbaijan began in 2018 through cooperation with the country’s Ministry of Energy. This collaboration led to the development of Azerbaijan’s first utility-scale renewable energy facility—a 230-megawatt solar power plant—which has now been operational for nearly two years.

Building on that success, Masdar expanded its engagement in 2024 by signing a landmark agreement with SOCAR during Baku Energy Week to develop an additional 1 gigawatt of renewable capacity in the country.

“This includes two solar power plants in Bilasuvar and Neftchala, which are already under construction, as well as a 240 MW onshore wind farm,” Al Mazrouei said. “As a result, our total investment in Azerbaijan will amount to approximately $1.2 billion.”  

She further noted that Masdar is actively exploring new initiatives in partnership with Azerbaijani stakeholders, particularly within the framework of the “green energy corridor” project. This ambitious initiative aims to facilitate the export of renewable electricity from Azerbaijan to European markets, presenting new opportunities for global investors.

“Our vision extends beyond local development—we see Azerbaijan playing a key role in the regional clean energy transition,” Al Mazrouei stated.

By Vafa Guliyeva