16:52 - 2.08.2022

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August 2, Fineko/abc.az. The loan package for the construction of a solar power plant (Alat Solar project - Garadag solar power plant) with capacity of 230 MW near Alat settlement in Azerbaijan will amount to $114.2 million to be provided to Masdar Azerbaijan Energy (MAE), ABC.AZ reports with reference to the ADB.

Last April, Masdar signed contracts for development of the Garadag project, located 9 km northwest of Alat settlement, and it is expected that the power plant will begin commercial activity in 2023.

The project is funded jointly by the EBRD, the Japan International Cooperation Agency and the Abu Dhabi Development Fund.

The new solar power plant will produce up to 558 gigawatts/hour of clean energy per year from the first year of commissioning and will prevent carbon emissions of up to 265,000 tons per year.

MAE will transfer energy generation to Azerenergy under a 23-year energy purchase and sale agreement.