Abu Dhabi-based Masdar is looking to develop integrated offshore wind and green hydrogen projects, and onshore wind and solar projects, with a combined capacity of 4GW with the State Oil Company of the Republic of Azerbaijan (SOCAR).
The joint development agreements come in line with SOCAR’s intentions of pursuing Azerbaijan national targets of producing 30% of its domestic power needs from renewable energy sources by 2030.
Having recently announced a new shareholding structure with a strong focus on green hydrogen, Masdar aims to achieve 100GW of renewable energy capacity and one million tonnes of green hydrogen production per year by 2030.
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