{"id":79304,"date":"2022-08-02T23:13:37","date_gmt":"2022-08-02T21:13:37","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=79304"},"modified":"2022-08-02T23:13:37","modified_gmt":"2022-08-02T21:13:37","slug":"114-2-m-financing-package-for-azerbaijans-solar-power-plant","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/114-2-m-financing-package-for-azerbaijans-solar-power-plant\/","title":{"rendered":"$114.2 m financing package for Azerbaijan\u2019s solar power plant"},"content":{"rendered":"

The\u00a0European Bank for Reconstruction and Development (EBRD)<\/a>, the\u00a0Asian Development Bank (ADB)<\/a>, the Japan International Cooperation Agency (JICA), and the\u00a0Abu Dhabi Fund for Development (ADFD)<\/a> secured a $ 114.2 million financing package to commission a 230-megawatt (MW) photovoltaic (PV) solar power plant located near the Alat settlement in eastern\u00a0Azerbaijan<\/a>.<\/p>\n

The funding will be provided to the Garadagh Solar Project developer Masdar Azerbaijan Energy LLC, which is fully owned by\u00a0Abu Dhabi Future Energy Company<\/a>. Masdar is a leading renewable energy company operating globally and an existing client of the Bank, ADB, JICA and ADFD.<\/p>\n

Masdar\u2019s solar power plant is the first privately owned, utility-scale solar power project in Azerbaijan. Today\u2019s agreement sets the precedent for further private-sector participation in Azerbaijan\u2019s renewable energy market actively supported by the EBRD at the policy and investment level. Once commissioned, the plant\u2019s 230 MW of renewable energy will generate up to 558 Gigawatt hours (GWh) of electricity, reducing annual CO2<\/sub> emissions by up to 265,000 tons.<\/p>\n

This will not only support Azerbaijan\u2019s decarbonization agenda, but also contribute to European energy security by increasing availability of domestic gas for exports. The project will thus contribute to priorities set out in the United Nations 2030 Sustainable Development Goals (SDGs)<\/a>, namely, clean and affordable energy; industry, innovation and infrastructure; and climate action.<\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0European Bank for Reconstruction and Development (EBRD), the\u00a0Asian Development Bank (ADB), the Japan International Cooperation Agency (JICA), and the\u00a0Abu Dhabi Fund for Development (ADFD) secured a $ 114.2 million financing package to commission a 230-megawatt (MW) photovoltaic (PV) solar power plant located near the Alat settlement in eastern\u00a0Azerbaijan. The funding will be provided to the […]<\/p>\n","protected":false},"author":410,"featured_media":79305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6038,984],"tags":[],"yoast_head":"\n$114.2 m financing package for Azerbaijan\u2019s solar power plant - Csr Egypt<\/title>\n<meta name=\"description\" content=\"(EBRD), the\u00a0Asian Development Bank (ADB), the Japan International Cooperation Agency (JICA), and the\u00a0Abu Dhabi Fund for Development (ADFD) secured a $ 114.2 million financing package to commission a 230-megawatt (MW) photovoltaic (PV) solar power plant located near the Alat settlement in eastern\u00a0Azerbaijan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/114-2-m-financing-package-for-azerbaijans-solar-power-plant\/\" \/>\n<meta property=\"og:locale\" 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