Masdar and AGEC Partner to Expand Azerbaijan Solar Capacity

Masdar, a clean energy company based in the United Arab Emirates, signed a collaboration agreement with the Azerbaijan Green Energy Company (AGEC) to develop new renewable energy projects in Azerbaijan. The partnership focuses on expanding the existing Garadagh solar PV plant by at least 350 megawatts, which will increase its current 230-megawatt capacity.

The agreement also includes the integration of a battery energy storage system with a capacity of up to 200 megawatt-hours. The Garadagh facility opened in 2023 as the first foreign investment-based independent utility-scale solar project in the country. It currently generates approximately 500 million kilowatt-hours of electricity annually, providing power to more than 110,000 homes.

This new collaboration builds upon Masdar's initial entry into the Azerbaijani energy market. The expansion project involves coordination with state entities, including the Government of Azerbaijan and AzerEnerji OJSC, which were involved in the original investment and power purchase agreements for the site.