Power Grid

Azerbaijan's offshore wind energy sector is gaining momentum with the involvement of three companies specializing in green energy projects, which will help support Baku's efforts to enhance its renewable energy infrastructure and export clean electricity to Europe.

Masdar, a leading clean energy company from the UAE, has signed a Memorandum of Understanding (MoU) to develop 3.5 GW of offshore wind projects in the Caspian Sea. This agreement, signed during the COP29 climate summit, also includes SOCAR Green, a subsidiary of Azerbaijan’s state-owned oil company SOCAR, and a Saudi company involved in water desalination, energy transition, and green hydrogen.

The MoU outlines the development of Azerbaijan’s first offshore wind energy projects, aligning with the country’s broader renewable energy, green hydrogen, and water desalination goals. Under this partnership, the companies will work together to create an institutional roadmap that will guide the development of offshore wind energy infrastructure in the Caspian Sea. This marks a significant step in Azerbaijan’s push to diversify its energy sources and strengthen its position in the global green energy market.

Masdar's CEO, Mohammed Jameel Al Ramahi, expressed that Azerbaijan is a key strategic market for the company, and the MoU paves the way for accelerating the country’s clean energy goals. He emphasized Masdar’s commitment to strengthening its partnership with local and international players to tap into Azerbaijan’s offshore wind potential.

SOCAR’s President, Rovshan Najaf, highlighted the importance of the agreement in advancing Azerbaijan’s sustainable energy future and leveraging offshore wind resources in the Caspian Sea to support the country’s energy transition.

SOCAR Green, established in 2024, is playing a pivotal role in Azerbaijan's transition to renewable energy by leading initiatives in solar, wind, and green hydrogen. The collaboration with global renewable energy leaders will support Azerbaijan’s climate targets and contribute to its role in global sustainability efforts.

In addition to offshore wind projects, Masdar’s existing portfolio in Azerbaijan includes solar power plants and wind energy projects, which together aim to strengthen energy security, create jobs, and support Azerbaijan’s goal of carbon neutrality by 2050. Through these projects, Masdar and its partners are helping Azerbaijan achieve its renewable energy ambitions and contribute to the global fight against climate change.