Masdar renewable energy international expansion

Masdar, the Abu Dhabi-based renewable energy company, is pursuing significant international expansion through strategic partnerships and regional subsidiaries.

In Azerbaijan, Masdar has entered a collaboration with the Azerbaijan Green Energy Company to expand solar PV developments, including a potential 350MW expansion of the Garadagh site. The partnership also explores battery energy storage systems, specifically a system of up to 200MWh, and a 100MW round-the-clock renewable project in Nakhchivan. Additionally, Masdar and SOCAR Green have reached financial close for the 315MW Neftchala Solar PV project, developed in partnership with Azerbaijan’s Ministry of Energy.

Simultaneously, Masdar is utilizing its Greek subsidiary, TERNA Energy, to expand its footprint across Southeast and Eastern Europe. This strategy positions the Greek entity as a development platform for the Balkans, targeting investments in Serbia, Montenegro, Albania, Bulgaria, and Romania. In Serbia, the company has established a 312 MW wind hub through the Cibuk 1 and Cibuk 2 projects, with TERNA Energy taking a 10% stake in the Cibuk 1 project.