Masdar starts construction of 230 MW solar project in Azerbaijan
Masdar, a subsidiary of Mubadala Development Company, has started the construction of its 230 MW solar photovoltaic project located in Garadagh in the Baku region of Azerbaijan.
The project is the nation’s first foreign investment-based independent solar power project with financing supported by the Abu Dhabi Fund for Development (ADFD). Located nine kilometers northwest of the Alat settlement, the Garadagh PV project is expected to start commercial operation in 2023. The project will help to generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 houses, and will reduce emissions by more than 200,000 tons a year.
Once operational, the solar farm will supply energy to the nearby Garadagh Industrial Park.
Country news
-
-
January 05, 2021
ACWA Power signs PPA for 240 MW onshore wind farm in Azerbaijan
Following the signing of the implementation agreement for the US$300 million Independent Power Project in January 2020, ACWA Power executed the official agreements for the 240 MW wind power project that will be located in the Absheron and Khizi region in Azerbaijan.
Read more -
January 30, 2019
US$4.4 billion financial close for Trans-Adriatic Pipeline
The Trans Adriatic Pipeline (TAP) successfully completed financial close in December 2018, securing EUR3.9 billion (US$4.44 billion) - the largest project finance agreed for a European infrastructure project in 2018.
Read more -
November 04, 2015
Azerbaijan plans 200 MW offshore wind farm
According to sources, Azerbaijan has plans to develop a 200 MW offshore wind farm in the Caspian Sea Read more -
October 23, 2014
Statoil sells 15.5% share in Shah Deniz to PETRONAS for USD 2.2 billion
Statoil has sold its 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company (AGSC) to the Malaysian oil and gas company Petronas. Read more -
May 05, 2015
Statoil completes sale of 15.5% share in Shah Deniz to PETRONAS
Statoil has closed the sale of its 15.5% participating interest in the Shah Deniz production sharing agreement to the Malaysian oil and gas company Petronas. Read more
