13:19 - 16.11.2024

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November 16, Fineko/abc.az. Within COP29, SOCAR Green LLC, Masdar (UAE), the EBRD, the ADB and the AIIB signed documents on financing two solar energy projects in Azerbaijan.

ABC.AZ reports with reference to the Ministry of Energy that it is expected that the total cost of Bilasuvar solar power plant with capacity of 445 MW and Neftchala solar power plant with capacity of 315 MW, funded by the EBRD, ADB and AIIB, will amount to $670 million.

The plants to be commissioned in 2027 are projected to generate more than 1.7 billion kWh of green energy annually, which means saving 380 million cu m of natural gas per year, as well as reducing carbon emissions into the atmosphere by 830,000 tons.

On June 4, 2024, within the Baku Energy Week, a ceremony of laying the foundations of three new power plants was held with the participation of Azerbaijani President Ilham Aliyev.