BAKU, Azerbaijan, September 15. Masdar, based
in the United Arab Emirates (UAE) will explore the potential
expansion of Garadagh Solar PV in Azerbaijan, the company said.
Masdar, a global clean energy leader, has signed a collaboration
agreement with Azerbaijan Green Energy Company (AGEC) to explore
the development of new renewable energy projects in Azerbaijan.
“The collaboration agreement includes plans to explore the
potential expansion of Masdar’s 230-megawatt (MW) Garadagh Solar PV
by a minimum of 350MW, together with the addition of a battery
energy storage system (BESS) of up to 200 megawatt-hours (MWh),”
said the company.
Masdar said it has established a strong track record in
Azerbaijan since entering the market with the Garadagh project,
inaugurated in 2023.
“Garadagh, which was also Azerbaijan’s first foreign
investment-based independent utility-scale solar power project,
generates approximately 500 million kilowatt-hours (kWh) of
electricity annually, enough to power more than 110,000 homes,” the
company said.
In January 2020, Masdar signed an implementation agreement to
develop a utility-scale solar photovoltaic (PV) project in the
Republic of Azerbaijan.
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 solar power plant has also created new jobs for the local
community.
