UAE’s clean energy powerhouse Masdar has signed a memorandum of understanding (MoU) with SOCAR Green and ACWA Power to develop 3.5 GW of offshore wind projects in the Azerbaijan section of the Caspian Sea.
The potential projects would be Azerbaijan’s first offshore wind farms. The agreement supports plans by Azerbaijan to develop renewable energy, green hydrogen and water desalination projects.
“Azerbaijan is a key strategic partner for Masdar and the signing of this Memorandum of Understanding with our partners today paves the way to accelerate the scale of Azerbaijan’s clean energy vision.
“We are proud to expand our partnership with ACWA Power and SOCAR to further explore renewable energy projects in the region, especially the enormous offshore wind potential in the Caspian Sea,” Mohamed Jameel Al Ramahi, CEO of Masdar, said:
“This agreement represents an important step forward in our journey towards a sustainable energy future. By leveraging the combined expertise of SOCAR, Masdar, and ACWA Power, we aim to unlock the vast offshore wind potential of the Caspian Sea, supporting Azerbaijan’s energy transition targets.
“These projects not only reflect our dedication to clean energy but also to economic growth and environmental stewardship for future generations,” added Rovshan Najaf, President of SOCAR.