Azerbaijan’s Ministry of Energy has signed three investment agreements for three separate solar projects involving cooperation from Chinese companies. The first agreement is for the evaluation, development and implementation of a 160 MW solar plant.
Azerbaijan’s cumulative solar capacity stood at 293 MW by the end of 2024, according to figures from the International Renewable Energy Agency (IRENA). Work on a 240 MW project in southwestern Azerbaijan began last November, the same month funding was secured for two solar projects in the southeast of the country that will total 760 MW.
It is between the ministry, Universal Solar Azerbaijan LLC and an unnamed Chinese company whose cooperation was determined through an auction. The investment contract covers the construction and operation of the plant, with contracts for the purchase and sale of electricity and connection to the transmission network to be signed.
They will be implemented by Chinese companies working in collaboration with Azerbaijan-based developers. Azerbaijan’s Ministry of Energy has signed three investment agreements for three separate solar projects involving cooperation from Chinese companies.
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Earlier this year, during his business trip to China, President of the Republic of Azerbaijan Ilham Aliyev received the Chairman of the company, and discussions were held …
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The third announced project is a 100 MW floating solar power plant with a 30 MWh battery storage system to be located on Lake Boyukshor, close to Azerbaijan’s capital Baku.
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Discover the untapped potential for solar panel manufacturing in Azerbaijan. Learn about government incentives, market gaps, and how to gain a first-mover advantage.
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