In a strategic move to accelerate Azerbaijan’s renewable energy ambitions, Masdar, SOCAR Green, and ACWA Power have signed a Memorandum of Understanding (MoU) to jointly explore the development of 3.5 gigawatts (GW) of offshore wind projects in Azerbaijan’s Caspian Sea waters.
Signed during COP29 in Baku, the agreement marks a significant milestone in Azerbaijan’s clean energy journey, representing the nation’s first foray into offshore wind power.
The agreement was formalised by Rovshan Najaf, President of SOCAR; Abdulaziz Alobaidli, COO of Masdar; and Marco Arcelli, CEO of ACWA Power.
The partners aim to establish a structured roadmap to facilitate the development of offshore wind, a key component of Azerbaijan’s push for renewable energy and net-zero emissions by 2050.
Masdar CEO Mohamed Jameel Al Ramahi highlighted Azerbaijan as a “key strategic partner” in advancing clean energy, while ACWA Power CEO Marco Arcelli stressed the collaboration’s role in supporting global decarbonisation goals. SOCAR’s Najaf called the MoU a “significant step” in unlocking the Caspian Sea’s vast wind potential and advancing Azerbaijan’s energy transition.
The offshore projects are expected to strengthen Azerbaijan’s renewable portfolio alongside notable solar and wind initiatives, including the Garadagh Solar Plant and ACWA Power’s Khizi-Absheron Wind Farm, enhancing energy security and fostering economic growth in the region.
Established in 2024, SOCAR Green leads Azerbaijan’s renewable transition, aligning with international partners to drive sustainable development.
Masdar, a pioneer in UAE’s sustainability initiatives since 2006, and ACWA Power, active in Azerbaijan since 2019, both reinforce their commitment to global energy transition goals through this partnership.
