BAKU, Azerbaijan, March 18. Financial close for the 240-megawatt Absheron-Garadagh wind project in Azerbaijan is expected by mid-2026, Abdulla Zayed, Director, Business and Projects Development at Masdar, the global clean energy leader based in the United Arab Emirates (UAE), said in an exclusive interview with Trend.
“We began our journey in Azerbaijan around eight years ago, when we initiated discussions with the government and the Ministry of Energy to support the development of the country’s renewable energy framework. These initial discussions materialized in the 230-megawatt Garadagh solar project, which has been operational since 2023. The project has been a success and has laid a strong foundation for future cooperation between Masdar and the government of Azerbaijan. Building on the success in Garadagh, we agreed with the government to develop additional projects in Azerbaijan. This includes three renewable energy projects currently at advanced stages. Two solar projects — in Bilasuvar and in Neftchala — are under construction. The third project is a wind farm in the Absheron-Garadagh region,” he said.
Zayed pointed out that the two solar projects are progressing well, and Masdar expects to inaugurate the Bilasuvar project by the end of this year, as it is more advanced.
“We’re targeting completion of the Neftchala solar project by the first half of next year. The wind project is also at an advanced stage, and we hope to reach financial close by mid-year. That’s when full construction activities will start. Some preliminary work is already happening on the ground, but the main construction is expected to begin once the financial close is finalized,” he explained.
Zayed noted that these projects represent clear opportunities that Masdar is pursuing in collaboration with the government of Azerbaijan.
“Together, they will expand our renewable energy capacity in the country to 1.2 gigawatts, with total investments exceeding $1 billion. To give you an example of our impact in Azerbaijan, the 1.2 gigawatts of projects we are developing will supply electricity to more than half a million homes.
“Beyond these projects, we continue to explore additional opportunities with the government. Azerbaijan has strong solar and wind resources. When planning new capacity, the focus is not only on individual projects or specific sites, but also on aligning with the national grid and the areas where electricity demand is highest. While Azerbaijan has abundant land resources, it makes strategic sense to locate projects where the energy is most needed. This approach has guided our collaboration with the government, exemplified by the Bilasuvar project. We are also continuing discussions on further developments, including the potential expansion of the Garadagh project,” he added.
Zayed went on to add that Masdar is actively discussing with the government of Azerbaijan opportunities beyond these three projects, as part of its broader green collaboration.
“As I mentioned, Azerbaijan has abundant renewable resources, with excellent solar and wind potential. Ultimately, our ability to develop additional projects depends on the technical feasibility. As Masdar, an investor from the UAE, we are very eager to expand our presence and increase our investments in Azerbaijan. We have observed strong momentum from the Azerbaijani government in decarbonizing the energy sector, promoting green electricity, reducing dependency on oil and gas, and creating additional capacity that can be exported or utilized in other markets. We value this proactive approach and, building on our successful track record in Azerbaijan, we are committed to doing more and supporting the government in advancing green electricity initiatives,” he added.
Presenting on outcomes of Masdar’s activities in Azerbaijan during the Southern Gas Corridor Advisory Council meeting in Baku, he noted that this meeting continues to be an important platform for the company.
“Masdar has been participating for many years, and it provides a valuable opportunity to update Azerbaijan, the region, and all stakeholders on our activities in the country. During our presentation, we shared our ongoing projects in Azerbaijan and highlighted our deep appreciation for the collaboration with the Azerbaijani government in promoting green energy,” he said.
Zayed noted that Masdar has been active in Azerbaijan for a long time, and is extremely pleased with the ongoing collaboration with the government.
“We are also working closely with SOCAR Green as our local partner,” he noted.
Zayed pointed out that from day one, SOCAR Green has been involved in every aspect of these projects—from developing the concept and business case to discussions with the government, banks, and other stakeholders to bring the projects to fruition.
“Their involvement has been invaluable. As a local company, they bring critical know-how and experience, and as part of SOCAR, one of the largest international oil and gas companies, they share a strategic vision to decarbonize and develop green energy capabilities. This partnership benefits both sides: it ensures transparent communication between the foreign investor, the government, and the local partner, while also allowing SOCAR Green to build its internal expertise in solar, wind, and other green energy technologies. It positions them to potentially expand their green energy activities beyond Azerbaijan in the future,” he said.
Talking about regional and global presence, Zayed said Masdar is the largest renewable energy company in Central Asia and the South Caucasus.
“Since entering Azerbaijan in 2018, we have expanded into Uzbekistan and Kazakhstan, achieving early successes thanks to supportive government policies. We have implemented bilateral projects in those countries as well. We have also explored opportunities in other countries in the region, however, none are as large or as mature as those in Azerbaijan, Uzbekistan, and Kazakhstan. Development in the other countries is still ongoing, but there is strong interest in expanding renewable energy,” he said.
Zayed noted that by the end of last year, Masdar had secured approximately 65 gigawatts of renewable energy capacity internationally. Of the 65GW portfolio, 45GW is operational, under construction, or committed, with a further 20GW of advanced pipeline.
“We operate globally and are active in Southeast Asia, Central Asia, Azerbaijan, the Middle East, Africa, Europe, and in the United States. Our portfolio is diversified across solar and wind development, as well as standalone energy storage projects, which are gaining increasing traction, particularly in Europe. Our total investments in the renewable energy sector exceed $30 billion worldwide.
“Masdar has set an ambitious target of 100 gigawatts by 2030, as defined by our shareholders. To achieve this goal, we view Azerbaijan and the broader region as a core area for growth. We will continue to pursue opportunities here when the resources, regulatory environment, and market conditions align,” he concluded.