UAE-based Masdar has signed three investment agreements for two solar projects and one onshore wind project in Azerbaijan with combined capacity of 1-gigawatts (GW), according to a Reuters Brief.

The new agreements follow the presidential inauguration of Masdar’s first renewable energy project in Azerbaijan, the 230-megawatt (MW) Garadagh Solar Park.

The solar park is the largest project in the Central Asia region, and was co-financed by Abu Dhabi Fund for Development, Asian Development Bank, European Bank for Reconstruction and Development and Japan International Cooperation Agency (JICA).

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.