- Masdar has launched its first foreign investment-based independent solar power plant in Azerbaijan.
- The plant will have a capacity of 230MW.
Renewable energy developer Masdar has kicked off its first foreign investment-based independent solar power plant in Azerbaijan, the company said in a statement. The project will have a capacity of 230MW.
Suhail Al Mazrouei, UAE’s Minister of Energy and Infrastructure, noted, “the UAE and Masdar look forward to continuing to drive foreign direct investment and supporting Azerbaijan on its ambitious clean energy journey as we explore more opportunities to further strengthen our partnership.”
To begin operation in 2023, the plant will generate up to 500 million kilowatt-hours of electricity per year, enough to power an estimated 110,000 homes. Masdar has signed a total of four Memorandums of Understandings related to the development of clean energy projects in Azerbaijan.