11:58 - 31.01.2025

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January 31, Fineko/abc.az. Chinese company Universal Energy has entered the Azerbaijani market and founded a new company that is building several power plants in the vicinity of Baku.

ABC.AZ informs that Universal Socar Azerbaijan LLC, a state-registered company, has authorized capital of 17,000 manats. Its director is Chinese citizen Zheng zheng Tao. The company was incorporated in January 2025.

The project is planned in Gobustan disrict of Azerbaijan and will have capacity of 100 MW. It is planned to be connected to the network in early 2026. The annual electricity generation within the project will reach 180 million kWh, which is equivalent to reducing carbon emissions by about 146,520 tons a year.

The company has alternative energy projects in Kazakhstan and Uzbekistan.