Masdar and SOCAR launch 1GW solar and wind projects in Azerbaijan

The President of Azerbaijan and the President of COP28 kick off three major renewable energy projects, led by Masdar and SOCAR, with a total capacity of 1GW.
Masdar SOCAR projets solaires éoliens ÉAU Azerbaïdjan

Partagez:

Masdar and SOCAR, Azerbaijan’s national oil company, have launched three major solar and wind power projects in Azerbaijan, with a total capacity of 1 gigawatt (GW). The move is part of a long-term strategic partnership between Masdar and Azerbaijan, aimed at supporting the country’s ambitions to generate 30% of its energy capacity from renewable sources by 2030.
The opening ceremony was attended by HE Ilham Aliyev, President of Azerbaijan, and HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technologies, President of Masdar and President of COP28. Also present were SE Parviz Shahbazov, Azerbaijan’s Minister of Energy, SE Mikayil Jabbarov, Azerbaijan’s Minister of Economy and Chairman of SOCAR’s Supervisory Board, and Mohamed Jameel Al Ramahi, CEO of Masdar. Baku thus continues its energy transition.

Three major projects to speed up the transition

The three projects launched include the 445MW solar photovoltaic project at Bilasuvar, the 315MW solar photovoltaic project at Neftchala and the 240MW onshore wind project at Absheron-Garadagh. The investment agreements for these projects were signed in October 2023, followed by the signing of power purchase agreements, grid connection agreements and land lease agreements. On the sidelines of Baku Energy Week, Masdar and SOCAR also signed a shareholding agreement for the three projects.
These initiatives will support Azerbaijan’s energy diversification, stimulate new industries, create jobs and promote sustainable economic growth. A key pillar of the UAE’s historic consensus is the goal of tripling renewable energy capacity by 2030.

Significant environmental and economic benefits

Annual electricity production of 2.3 billion kWh will save more than 500 million cubic metres of natural gas and prevent the emission of more than 1 million tonnes of carbon. These plants will make a major contribution to sustainable development in Azerbaijan.
This kick-off follows Masdar’s completion of the 230MW Garadagh solar power plant in October 2023, the first independent solar project based on foreign investment in Azerbaijan and the largest solar power plant in the region at the time of its inauguration.
Masdar, the UAE’s clean energy champion, is targeting a renewable energy capacity portfolio of 100GW by 2030, supporting the goal set out in the UAE Consensus of tripling global renewable energy capacity by the end of this decade, while aiming to become a leading producer of green hydrogen by the same timeframe.
This major step forward in the development of renewable energies in Azerbaijan testifies to the commitment of the country and its strategic partners to a sustainable energy transition. It paves the way for future large-scale projects that will transform the region’s energy landscape, bringing significant environmental and economic benefits for generations to come.

Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Plenitude and Modine have signed an agreement to build a photovoltaic plant with an installed capacity of 1.585 MWp in Pocenia, designed to power thermal and refrigeration equipment at Modine’s Italian industrial site, without initial investment.
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.
CleanCapital expands its portfolio by acquiring solar and energy storage assets totaling 27 MW in California and Massachusetts from Pacifico Energy to meet growing demand in the United States.
BrightNight and Cordelio Power commission a major 300 megawatt solar project in Arizona, attracting significant investments from JPMorgan and Capital One, with estimated local economic benefits of $180mn.
Austria is launching an unprecedented 20% bonus on photovoltaic subsidies to promote equipment manufactured in Europe, with a total envelope of €20 million dedicated to solar installations and energy storage systems.
Chinese manufacturer Longi will invest alongside Pertamina NRE in a 1.6 GW site at Deltamas, aiming to strengthen the local photovoltaic chain and capture demand expected under Indonesia’s power plan.
OMV Petrom acquires 50% of the 400 MW Gabare photovoltaic project near Sofia, in partnership with Enery, in a deal valued at approximately €200 million including a potential energy storage solution.
Driven by strong solar adoption, the global SCADA systems market for renewable energy is expected to reach $3.56bn by 2030, with an estimated average annual growth rate of 12.7%, according to MarketsandMarkets.
RATP and Urbasolar officially inaugurated the Colombier photovoltaic power plant, the first large-scale solar installation operated by the Parisian public transport operator, set to produce 14 GWh of electricity per year.
Danish developer European Energy finalises financing deal exceeding €70m for constructing two Australian solar plants, totalling 137 megawatts of installed capacity on the local electricity market.
The African Development Bank financially supports Zambia with $26.5 million for the 32 MW Ilute solar project, structured to avoid reliance on sovereign guarantees.
Emeren Group Ltd announces a definitive merger agreement with Shurya Vitra Ltd, providing for the repurchase of shares at $0.20 each, aiming to transform the company into a private entity by the end of September 2025.
The global solar tracker market is expected to reach $29.31bn by 2030, driven by a compound annual growth rate of 26.2%, notably supported by large-scale photovoltaic projects and recent technological advances, a new study reports.