They would be the country’s first offshore wind farms and form part of Azerbaijan’s strategy to embrace renewable energy, green hydrogen and water desalination projects.
The MoU was formalised by Rovshan Najaf, president of SOCAR, Abdulaziz Alobaidli, chief operations officer of Masdar, and Marco Arcelli, CEO of ACWA Power.
The parties will adhere to a corporation roadmap outlining crucial development milestones for Azerbaijan’s offshore wind sector.
Masdar CEO Mohamed Jameel Al Ramahi stated: “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.”
