Absheron field: phase two
The first phase started production in 2023. Expansion is a separate project: public review of its environmental and social impact assessment began in March 2026.
Event / source date: · Primary source ↗
View milestones →FinFly Watch
What was announced. What is confirmed. What comes next.
Absheron–Garadagh: 240 MW wind farm
An onshore wind project by Masdar and SOCAR. This is separate from ACWA Power’s Khizi–Absheron wind farm of the same capacity.
Source checked: · Primary source ↗
View milestones →Alat cargo airport: towards first flights
A new airport and cargo services at Alat. A dnata–Silk Way Group agreement is confirmed; sources give differing opening targets, not an accomplished launch.
Source checked: · Primary source ↗
View milestones →AZAL: fourth Airbus A320neo added to the fleet
On 22 June 2026, AZCON Holding reported that Azerbaijan Airlines (AZAL) strengthened its fleet with another modern Airbus A320neo aircraft. The new aircraft is the fourth Airbus A320neo in AZAL's fleet of 28 aircraft. It features the Airspace cabin, a state-of-the-art entertainment system, high-speed Wi-Fi connectivity and individual monitors in Business Class, with an operational range of up to 6,300 kilometres. AZAL aims to increase its fleet to 50 aircraft by 2032.
Event / source date: · Primary source ↗
View milestones →AZAL: first next-generation Airbus A321neo delivered
On 27 June 2026, AZCON Holding announced that Azerbaijan Airlines (AZAL) added its first next-generation Airbus A321neo aircraft to its fleet. The aircraft was officially delivered during a ceremony held in Hamburg on 25 June 2026. With this addition, the total number of Airbus aircraft in AZAL's fleet reached 18: three Airbus A319ceo, ten Airbus A320ceo, four Airbus A320neo, and one Airbus A321neo. The A321neo features the Airspace cabin, accommodates 191 passengers, offers a flight range of up to 7,400 kilometres, and delivers approximately 20% lower fuel consumption and carbon emissions per seat versus previous-generation aircraft. As part of its long-term growth strategy, AZAL plans to expand its fleet to 50 aircraft by 2032; several additional aircraft are expected by the end of the year, bringing the total of new aircraft added in 2026 to eight — the largest fleet renewal programme in a single year in AZAL's history.
Event / source date: · Primary source ↗
View milestones →New Boeing 787s for AZAL
Tracking the eight-Dreamliner order announced in 2023. Aircraft delivered earlier do not count towards fulfilment of the new order.
Event / source date: · Primary source ↗
View milestones →AZCON Holding and AD Ports Group: MoU on ports, shipping, logistics and digital solutions
On 29 April 2026, AZCON Holding and Abu Dhabi Ports Group signed a Memorandum of Understanding to explore strategic collaboration across ports, shipping, logistics and digital trade solutions in Azerbaijan. The MoU establishes a framework to explore investment opportunities in integrated transport and logistics infrastructure. The same release notes a separate contract already signed between Baku Shipyard LLC (an AZCON Holding subsidiary) and AD Ports Group for the construction and sale of two 780 TEU container vessels for Caspian Sea routes. No specific investment projects, amounts or timelines are disclosed in the source.
Event / source date: · Primary source ↗
View milestones →AZCON Holding and Amazon Web Services: new phase of cloud and AI partnership
On 28 July 2026 AZCON Holding announced a new phase of its strategic partnership with Amazon Web Services (AWS) to advance cloud technologies, artificial intelligence solutions and digital transformation in Azerbaijan. The collaboration continues under an agreement signed by the parties in February 2026. Key areas include a modern hybrid architecture integrating local data centres with AWS cloud services, and development of AI, data analytics, industry solutions and telecommunications systems. The source gives no specific facilities, investment figures or timelines.
Event / source date: · Primary source ↗
View milestones →AZCON Holding and China State Shipbuilding Corporation: cooperation talks
On 12 March 2026, an AZCON Holding delegation led by Executive Director Shahin Babayev met in China with a delegation of the China State Shipbuilding Corporation (CSSC) led by Vice-president Yuanpu Peng. The parties exchanged views on cooperation prospects in shipbuilding and port operations, exploring opportunities for joint implementation of projects related to shipbuilding, ship repair and use of electric vessels, as well as knowledge exchange in green maritime technologies, digital solutions and workforce development. No specific projects, volumes, values or timelines were announced.
Event / source date: · Primary source ↗
View milestones →AZCON Holding and Damen Shipyards Group: talks on potential cooperation
On 15 July 2026, AZCON Holding Executive Director Shahin Babayev met with Arnout Damen, Chief Executive Officer and shareholder of the Netherlands' Damen Shipyards Group. The parties exchanged views on potential areas of future cooperation and opportunities for joint activities. No specific projects, volumes, values or timelines were announced.
Event / source date: · Primary source ↗
View milestones →AZCON Holding and DP World: MoU on ports, logistics and maritime transport partnership
On 9 October 2026, AZCON Holding and DP World signed a Memorandum of Understanding to broaden their collaboration across ports, logistics, shipbuilding, and maritime transport. Under the agreement, both sides will share knowledge and expertise in modern port technologies, alongside the automation, digitalization, and optimization of port activities. The memorandum outlines plans to evaluate cooperation frameworks for advancing port and logistics infrastructure throughout Azerbaijan and the Caspian region. It also covers identifying fresh investment prospects, as well as the joint financing and operation of marine vessels dedicated to the oil and gas sector. Additionally, the partnership focuses on enhancing Azerbaijan's ship repair and shipbuilding capabilities, maximizing current production potential, and growing related services across the Caspian basin. The participants will also collaborate on projects centered on personnel training, knowledge-sharing, and best practice in port management. No specific projects, investment amounts or timelines have been defined.
Event / source date: · Primary source ↗
View milestones →MDDT, AZCON Holding and Franklin Templeton: MoU on an investment platform
On 26 September 2026, the Ministry of Digital Development and Transport, AZCON Holding and Templeton Asset Management Ltd. (part of the Franklin Templeton group) signed a Memorandum of Understanding. The document establishes a general framework for future cooperation on establishing and managing an investment platform within the AZCON Holding portfolio, aimed at improving state-owned enterprise management and attracting strategic investment. The platform's size, structure and timeline are not disclosed in the source.
Event / source date: · Primary source ↗
View milestones →RİNN, AZCON Holding and Microsoft Ireland: MoU on cooperation
On 25 September 2026, the Ministry of Digital Development and Transport of the Republic of Azerbaijan, AZCON Holding, and Microsoft Ireland Operations Limited signed a Memorandum of Understanding. The Memorandum was signed by Samaddin Asadov, Deputy Minister of Digital Development and Transport; Shahin Babayev, Executive Director of AZCON Holding; and Gabriela Popescu, Regional General Manager at Microsoft Ireland Operations Limited. The Memorandum provides a framework for exploring potential areas of cooperation between the parties. It establishes a general framework for future collaboration, while the terms and conditions of specific projects are to be agreed upon by the parties at a subsequent stage. No specific projects, investment amounts or timelines have been defined.
Event / source date: · Primary source ↗
View milestones →New AzInTelecom data centres
EIB financing supports two new sites in Absheron and Hajigabul. A signed loan and environmental documentation are confirmed steps, not the start of services.
Event / source date: · Primary source ↗
View milestones →Baku Metro: new stations and depots
The first expansion phase has approved financing and signed agreements. Depot works and upgrades to existing stations are distinct from future new-station openings.
Event / source date: · Primary source ↗
View milestones →Port of Baku: phase two
Expansion at Alat is a separate stage after the complex opened in 2018. In January 2025 the port reported preparations for phase two: design capacity is not cargo already handled.
Event / source date: · Primary source ↗
View milestones →Baku Shipyard: construction of two 780 TEU container vessels
On 3 June 2026, a keel-laying ceremony was held at Baku Shipyard LLC, a company of AZCON Holding, marking the commencement of construction of two 780 TEU container vessels intended to operate in the Caspian Sea. The project is being implemented within the framework of strategic cooperation between Azerbaijan and the United Arab Emirates and in partnership with AD Ports Group. The ships, expected to be completed by 2028, are to strengthen the Middle Corridor (Trans-Caspian International Transport Route). According to the source, since commencing operations Baku Shipyard LLC has completed 14 shipbuilding projects and repaired more than 170 vessels; of the 17 vessels in its order portfolio, 11 are under construction and 6 are at the design stage.
Event / source date: · Primary source ↗
View milestones →Baku Shipyard: Dostlug oil tanker handed over to Turkmenistan
On 22 June 2026 the opening ceremony of the Dostlug oil tanker, built by Baku Shipyard LLC (AZCON Holding) and to be presented by Azerbaijan as a gift to Turkmenistan, was held. The vessel has an overall length of 141 m, width of 16.9 m, draft of 4.54 m, deadweight of 7,875 tonnes, total cargo and slop tank capacity of 9,056 cubic metres, two main engines of 1,200 kW each and a speed of 10 knots. Azerbaijan's Minister of Digital Development and Transport Rashad Nabiyev and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Batyr Annayev attended. Commissioning of the tanker in Turkmen waters was described as important for Azerbaijan's shipbuilding industry.
Event / source date: · Primary source ↗
View milestones →Baku Shipyard: agreement to build two dry cargo vessels for KTZ Express Shipping
On 4 May 2026, Baku Shipyard LLC, a subsidiary of AZCON Holding, and KTZ Express Shipping, part of the Samruk-Kazyna group, signed a shipbuilding cooperation agreement covering construction of two dry cargo vessels to modern international standards. The release cites growing freight traffic along the Middle Corridor; with this agreement the number of vessels under construction for international orders reached 4. Timelines, contract value and delivery schedule were not disclosed.
Event / source date: · Primary source ↗
View milestones →Baku Shipyard: plan to build about 10 Ro-Ro vessels under a joint venture
On 19 March 2026 AZCON Holding and a private investor signed a Letter of Intent to establish a joint venture with equal share participation. Within the joint venture, construction of approximately 10 Ro-Ro type vessels at the Baku Shipyard is planned, with orders for the new vessels envisaged to be placed starting from 2026 and joint operations to commence in 2026 through integration of existing Ro-Ro vessels. The project aims to organise transportation of wheeled vehicles across the Caspian Sea and strengthen the sustainability and efficiency of the Middle Corridor.
Event / source date: · Primary source ↗
View milestones →Baku–Tbilisi–Kars: after modernisation
The route opened in 2017. Modernisation of the Georgian section in 2024 increased stated carrying capacity; the next question is how much of it is actually used.
Event / source date: · Primary source ↗
View milestones →Baku: new BakuBus electric bus depot commissioned
On 5 March 2026 BakuBus LLC (AZCON Holding) reported completion and commissioning of a new electric bus depot covering 4.3 hectares, under construction since July of the previous year within the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025–2030. The depot can accommodate 167 buses simultaneously; 150 fully electric BYD buses produced in Azerbaijan in 2025 were presented for passenger service (48 with capacity of 77 people, 102 with capacity of 81). 42 charging units of 240 kW manufactured by Luobinsen were installed. The new electric buses connect 8 settlements (Mardakan, Shuvalan, Bilgah, Buzovna, Qala, Mashtaga, Ramana, Nardaran) and 1 village (Mammadli) with the Koroglu Transport Exchange Center. The project provides permanent employment for 443 people, including 365 drivers and 78 administrative and technical staff.
Event / source date: · Primary source ↗
View milestones →Bilajari–Yalama: 192-km railway modernisation backed by ADB financing
On 16 October 2026 AZCON Holding reported that the Asian Development Bank allocated a US$350 million loan to install modern electrification, signalling and telecommunications systems along the 192-kilometre double-track railway line between Bilajari and Yalama. The line is described as a key link in the North–South and North-West international transport corridors. Upon completion the upgraded systems are to enable a transition from direct current to alternating current, with expected reductions in energy consumption and maintenance costs, higher train speeds and lower greenhouse gas emissions. The source gives no construction start or completion dates.
Event / source date: · Primary source ↗
View milestones →Bilasuvar solar plant: 445 MW
Financial close and first-panel installation are documented, not whole-plant commissioning.
Event / source date: · Primary source ↗
View milestones →Black Sea electricity cable
The interconnection with Europe is tracked through preparatory steps: research funding is not financing and completion of the entire submarine link.
Event / source date: · Primary source ↗
View milestones →Caspian-Black Sea-Europe Green Energy Corridor
On 2 October 2026, at the 4th Meeting of the Azerbaijan-EU High-Level Energy Dialogue in Brussels, CESI presented the results of the feasibility study for the Caspian-Black Sea-Europe Green Energy Corridor project. It was noted that following the successful completion of the feasibility study, the project is transitioning to the next stage of development, with the primary focus now on attracting potential investors and strategic partners. The importance of granting the project the status of a Project of Mutual Interest (PMI) was underscored. The aim is to reach a Final Investment Decision on the corridor by 2029. Specific construction timelines, route, and participants have not been defined.
Event / source date: · Primary source ↗
View milestones →Comoros: three UAE-financed solar plants inaugurated
On 6 September 2026, President of the Union of the Comoros Azali Assoumani inaugurated three solar photovoltaic plants financed by the Abu Dhabi Fund for Development (ADFD) at approximately AED84.4 million, implemented by Masdar and managed by Global South Utilities. Total installed capacity is approximately 20 MW: 12.86 MW on Grande Comore, 4.05 MW on Anjouan and 3.1 MW on Mohéli. The project also includes battery energy storage systems of 16 megawatt-hours (MWh) with a power output of 8 MW across Grande Comore and Anjouan, plus approximately 30 kilometres of 20-kilovolt medium-voltage overhead transmission lines. Technical studies indicate the plants will generate approximately 33.75 GWh of clean electricity annually, equivalent to meeting the needs of around 17,500 households and avoiding approximately 20,900 tonnes of CO2 emissions each year.
Event / source date: · Primary source ↗
View milestones →Garadagh: Fabriora Group paper and hygiene products plant
On 10 September 2026, President Ilham Aliyev attended the opening of a paper and hygiene products manufacturing facility owned by “Fabriora Group” LLC in Baku’s Garadagh district. The enterprise, covering nearly 11 hectares, will manufacture paper and hygiene products including baby diapers, various wipes and detergents, using both domestic raw materials and imported supplies. Modern, highly automated production technologies from Germany, Italy and Türkiye will be used. In addition to meeting domestic demand, products will be exported to Georgia, Kazakhstan, Russia, Middle Eastern countries and other markets. The facility is expected to provide permanent employment for 240 people. The total investment value of the project is AZN 27 million; based on an investment promotion document, “Fabriora Group” LLC obtained exemptions worth AZN 1 million from VAT and customs duties on imported equipment.
Event / source date: · Primary source ↗
View milestones →Garadagh solar power plant
230 MW. From agreements to official inauguration.
Event / source date: · Primary source ↗
View milestones →Gobustan: 100 MW solar power plant inaugurated
On 16 September 2026, President Ilham Aliyev attended the inauguration of the 100 MW Gobustan Solar Power Plant in Baku's Garadagh district. The project was implemented by China's Universal International Holdings Limited (Universal Energy), which won the auction in 2024; a 300.77-hectare plot in the Pirsaat settlement was designated as a renewable energy site by a 2023 Cabinet of Ministers decision. It is Azerbaijan's first renewable project implemented through an auction process and Universal Energy's first project in the country. Projected annual generation is about 200 million kWh, saving 45 million cubic metres of natural gas and cutting emissions by 97,000 tonnes per year. With commissioning, the country's total renewable capacity reached 2,170 MW across 85 plants.
Event / source date: · Primary source ↗
View milestones →Horadiz–Aghband: railway construction
A railway under construction in south-western Azerbaijan. The timeline distinguishes station groundbreakings from completion of the whole line and the launch of through services.
Source checked: · Primary source ↗
View milestones →Khizi-Absheron wind power plant
Official inauguration of ACWA Power’s 240 MW wind farm.
Event / source date: · Primary source ↗
View milestones →Lockhart Solar PV IV: reaching commercial operations
On 17 July 2026, Terra-Gen, jointly owned by Masdar and Igneo Infrastructure Partners, announced that its Lockhart Solar PV IV project reached commercial operations. The 80 MW solar project in San Bernardino County, California, will provide enough electricity to power approximately 40,000 homes and businesses annually through a long-term power purchase agreement. Lockhart IV is the final phase of the Lockhart Solar and Storage facility, which now comprises 365 MW of solar capacity and 173.7 MW of battery storage, enough to meet the annual needs of more than 350,000 homes and businesses. Situated on approximately 4,000 acres of private land, the complete facility includes nearly 1 million solar modules and 248 battery enclosures.
Event / source date: · Primary source ↗
View milestones →Lachin: Minkend Small Hydroelectric Power Plant inaugurated
On 26 September 2026, at an online ceremony held at the Baku Convention Center, President Ilham Aliyev and Demiroren Holding Chairman Yıldırım Demirören pressed the button signalling the opening of the Minkend Small Hydroelectric Power Plant in Lachin district. The plant's installed capacity is 3.2 MW with expected annual generation of 11.8 million kWh; it was built using Austrian and Italian technologies. The project for the restoration, construction and long-term operation of small hydroelectric power plants in Kalbajar and Lachin is being implemented under the 1st State Program on the Great Return on public-private partnership principles; its total value is 53.2 million manats and it includes the Minkend, Galaja-1, Galaja-2, Malibay and Tartar-1 plants. Operational lifespan is 30 years, total installed capacity under the project is 12.9 MW and expected annual generation is 44.1 million kWh. Incentives and exemptions for the liberated territories were applied, and a concessional loan was provided by the Azerbaijan Business Development Fund under the Ministry of Economy; Demiroren Holding and the Azerbaijan Business Development Fund hold equity stakes in Green Garabagh Energy LLC.
Event / source date: · Primary source ↗
View milestones →Montenegro: Masdar and EPCG move to execution of Štedim and Krupac solar projects
On 28 July 2026, Masdar and Montenegro's national power utility Elektroprivreda Crne Gore (EPCG) signed joint development agreements covering two solar photovoltaic projects with a combined capacity of 150 MW: Štedim (115 MW) and Krupac (35 MW). These are the first projects to be progressed through the 50/50 joint venture to be established after the Joint Venture Agreement signed in April 2026; the JV targets up to 2 GW of renewable energy capacity in Montenegro. A framework for action agreement was also signed to explore joint development of over 400 MW of pumped hydro energy storage. The agreements were signed in Tivat in the presence of HE Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and HE Admir Šahmanović, Montenegro Minister of Energy and Mining.
Event / source date: · Primary source ↗
View milestones →Neftchala solar power plant: 315 MW
A Masdar and SOCAR Green project with groundbreaking and financial close recorded. Masdar’s project page lists construction; design capacity is not actual generation.
Event / source date: · Primary source ↗
View milestones →Baku: first phase of “SABAH.city” innovation campus opened
On 14 September 2026, President Ilham Aliyev attended the opening of the first phase of the “SABAH.city” innovation campus, established at the High Technologies Park of the Ministry of Science and Education in Baku. The project will cover a total area of 20 hectares; the first phase encompasses more than 5 hectares with a total built-up area of 20,000 square metres. Construction began in October last year, resulting in a complex of four interconnected buildings. The campus is intended to engage more than 1,500 students from Baku State University, Azerbaijan Technical University and Azerbaijan State Oil and Industry University; once fully operational it is expected to welcome approximately 3,000 visitors daily. The campus hosts the ASAN AI Hub, 13 training and research laboratories, a coworking zone with 12 startups and 22 office spaces.
Event / source date: · Primary source ↗
View milestones →Saray: 208 rent-to-own apartments
The Fund announced apartments with payments starting at AZN 620. These are announcement terms, not confirmation of current availability.
Event / source date: · Primary source ↗
View milestones →Shafag: solar power and terminal electrification
A 330 kV substation has been inaugurated for the solar plant’s grid connection. This is a separate asset, not the solar plant’s inauguration.
Event / source date: · Primary source ↗
View milestones →Shah Deniz: the next stage of gas production
The compression project is intended to sustain gas recovery as reservoir pressure declines. An investment decision and automation contract are recorded, not a platform start-up.
Event / source date: · Primary source ↗
View milestones →Trans-Caspian fibre-optic link
On 15 October, the presidents of Azerbaijan and Kazakhstan officially inaugurated the Trans-Caspian fibre-optic link online.
Event / source date: · Primary source ↗
View milestones →Trans-Caspian fibre-optic cable line: officially launched between Sumgayit and Aktau
On 15 October 2026, the presidents of Azerbaijan and Kazakhstan, Ilham Aliyev and Kassym-Jomart Tokayev, officially inaugurated the Trans-Caspian Fiber-Optic Cable Line in an online format, implemented by the two countries under the “Digital Silk Way” initiative. A cable line approximately 380 kilometres long has been laid along the seabed of the Caspian Sea between Sumgayit and Aktau, with a capacity of more than 400 terabits per second. The presidents pressed a button to officially launch the project.
Event / source date: · Primary source ↗
View milestones →