Abu Dhabi-based renewable energy company Masdar has signed a collaboration agreement with Azerbaijan Green Energy Company (AGEC) to explore the development of new renewable energy projects in Azerbaijan. This includes both battery storage and round-the-clock (RTC) projects.
The agreement centers on plans for a minimum 350 MW expansion of Masdar’s existing 230 MW Garadagh Solar PV plant, along with the integration of an up to 200 MWh battery energy storage system (BESS).
Masdar and AGEC will also assess the development of a 100 MW RTC project, with Masdar stating it would build on its “pioneering work in Abu Dhabi, where it is developing a world-first US$6.1 billion gigascale RTC renewable energy project.” That project combines 5.2 GW of solar PV, with a 19 GWh BESS to deliver 1 GW of continuous renewable power and reached financial close in July 2026.
“This agreement gives us the opportunity to expand the project, integrate battery storage and explore round‑the‑clock renewable power. By combining our development, technical and operational expertise, we aim to deliver reliable, flexible energy solutions that support Azerbaijan’s growing power needs,” said Mohamed Jameel Al Ramahi, chief executive officer of Masdar.
Masdar and SOCAR Green also announced financial close of the 315 MW Neftchala Solar PV project, co-developed with the Ministry of Energy, with financing provided by the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD), and the Asian Development Bank (ADB).
Earlier in the month, Masdar and German infrastructure asset manager Luxcara signed a memorandum of understanding (MoU) for a strategic partnership that will see the companies invest more than €5 billion ($5.8 billion) on German battery storage and offshore wind projects.
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