+
Masdar, ACWA Power, SOCAR Green sign MoU for 3.5 GW offshore wind
POWER & RENEWABLE ENERGY

Masdar, ACWA Power, SOCAR Green sign MoU for 3.5 GW offshore wind

Abu Dhabi-based Masdar, Saudi Arabia's ACWA Power, and SOCAR Green, a subsidiary of Azerbaijan’s state oil company SOCAR, have signed a Memorandum of Understanding (MoU) to develop 3.5 gigawatts (GW) of offshore wind capacity in the Caspian Sea, marking the start of Azerbaijan’s first offshore wind farms.

The MoU was signed by SOCAR President Rovshan Najaf, Masdar COO Abdulaziz Alobaidli, and ACWA Power CEO Marco Arcelli. The agreement establishes a roadmap for achieving key milestones to support Azerbaijan’s renewable energy and green hydrogen ambitions.

Masdar CEO Mohamed Jameel Al Ramahi emphasised the strategic partnership and the Caspian Sea’s potential for offshore wind, stating, “This MoU accelerates Azerbaijan’s clean energy vision.” ACWA Power’s CEO Marco Arcelli highlighted the global significance of this collaboration, noting, “This partnership aligns with Azerbaijan’s net-zero goals and strengthens its leadership ahead of hosting COP29.”

SOCAR President Rovshan Najaf underlined the collaboration’s significance, saying, “This agreement is pivotal in leveraging the Caspian Sea’s wind potential and advancing Azerbaijan’s energy transition targets.”

The project adds to Azerbaijan’s renewable energy portfolio, which already includes Masdar’s 230 MW Garadagh solar plant and ACWA Power’s 240 MW Khizi-Absheron wind project, currently under advanced construction. These initiatives aim to boost energy security, create jobs, and drive economic growth in the region. (ET) ?

Abu Dhabi-based Masdar, Saudi Arabia's ACWA Power, and SOCAR Green, a subsidiary of Azerbaijan’s state oil company SOCAR, have signed a Memorandum of Understanding (MoU) to develop 3.5 gigawatts (GW) of offshore wind capacity in the Caspian Sea, marking the start of Azerbaijan’s first offshore wind farms. The MoU was signed by SOCAR President Rovshan Najaf, Masdar COO Abdulaziz Alobaidli, and ACWA Power CEO Marco Arcelli. The agreement establishes a roadmap for achieving key milestones to support Azerbaijan’s renewable energy and green hydrogen ambitions. Masdar CEO Mohamed Jameel Al Ramahi emphasised the strategic partnership and the Caspian Sea’s potential for offshore wind, stating, “This MoU accelerates Azerbaijan’s clean energy vision.” ACWA Power’s CEO Marco Arcelli highlighted the global significance of this collaboration, noting, “This partnership aligns with Azerbaijan’s net-zero goals and strengthens its leadership ahead of hosting COP29.” SOCAR President Rovshan Najaf underlined the collaboration’s significance, saying, “This agreement is pivotal in leveraging the Caspian Sea’s wind potential and advancing Azerbaijan’s energy transition targets.” The project adds to Azerbaijan’s renewable energy portfolio, which already includes Masdar’s 230 MW Garadagh solar plant and ACWA Power’s 240 MW Khizi-Absheron wind project, currently under advanced construction. These initiatives aim to boost energy security, create jobs, and drive economic growth in the region. (ET) ?

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code