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Azerbaijan and UAE Forge Bold Renewable Energy Partnership

15 سبتمبر 2026 20:22 مساء |
آخر تحديث: 15 سبتمبر 20:28 2026

رئيس أذربيجان وطحنون بن زايد يشهدان توقيع الاتفاقية

رئيس أذربيجان وطحنون بن زايد يشهدان توقيع الاتفاقية


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«مصدر» و«إيه جي إي سي» تدرسان توسيع «كاراداغ» والتخزين ومشروع 24/7؛ واستكمال الإغلاق المالي لـ«نفتشالا» 315 ميغاواط

In a pivotal development for renewable energy in Azerbaijan, President Ilham Aliyev and Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Advisor, witnessed the signing of a cooperative agreement between Abu Dhabi Future Energy Company (Masdar) and Azerbaijan Green Energy Company (AGEC). This partnership aims to explore opportunities for new renewable energy projects in Azerbaijan. Concurrently, Masdar and SOCAR Green announced the completion of financial closure for the 315 MW Neftchala photovoltaic solar project.

The agreement with AGEC outlines plans to investigate the potential to expand the output capacity of the 230 MW Karadag solar power plant, owned by Masdar, by adding at least 350 MW and equipping the facility with a battery storage system with a capacity of up to 200 MW/h. Additionally, Masdar and AGEC will explore the development of a 100 MW round-the-clock renewable energy project. The expertise Masdar gained from its own round-the-clock renewable energy project, the largest and first of its kind globally, valued at $6.1 billion, will be leveraged.

The cooperation agreement was signed by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Khayala Naghiyeva, Deputy Chairman of the Executive Board of AGEC. During the signing, Mohamed Jameel Al Ramahi, CEO of Masdar, remarked that the Karadag project has been a cornerstone of Masdar’s operations in Azerbaijan and has demonstrated the company’s capability to implement large-scale renewable energy projects.

“This agreement with Azerbaijan Green Energy marks a significant step forward in our collaboration and efforts to broaden the project’s scope and enhance its output capacity, alongside providing energy storage systems,” Al Ramahi noted. “By drawing upon our shared expertise in development, operation, and technical aspects, we aim to deliver reliable and flexible energy solutions that meet Azerbaijan’s growing needs.”

AGEC’s CEO, Mir Jamal Bashayev, emphasised the company’s commitment to supporting Azerbaijan’s objectives of building a more diverse, secure, and sustainable energy sector. “We believe that developing renewable energy projects is not only an investment opportunity but also a cornerstone for enhancing the resilience of the national economy and energy security, laying the foundations for a sustainable future for generations to come,” he stated.

Khayala Naghiyeva explained that the partnership capitalises on Masdar’s global experience, combined with AGEC’s local investment and development capabilities, to explore projects that not only add new capacities of clean energy but also enhance the energy system’s flexibility and reliability. “The proposed expansion of the Karadag photovoltaic solar project, along with the study to develop a round-the-clock renewable energy project in Nakhchivan, is a vital step towards integrating renewable energy with energy storage solutions, thereby creating a more resilient energy system capable of meeting Azerbaijan’s challenges,” she affirmed.

Financial Closure

Simultaneously, Masdar and SOCAR Green, fully owned by SOCAR, completed the financial closure of the Neftchala photovoltaic solar project, developed in partnership with the Ministry of Energy of Azerbaijan. The project is financed by several institutions, including the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, and the Asian Development Bank.

The financial closure agreement was signed by Dr. Sultan bin Ahmed Al Jaber, Khayala Naghiyeva on behalf of SOCAR Green, and Parviz Shahbazov, Minister of Energy representing the Azerbaijani government. The project, located in the Neftchala region of Azerbaijan, is expected to generate over 686 million kilowatt-hours of renewable electricity annually, sufficient to power approximately 140,000 homes while avoiding nearly 280,000 tonnes of carbon emissions yearly. (وام)

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