Work is underway on a 240 MW photo voltaic challenge in southwestern Azerbaijan following the signing of an funding settlement and land rent settlement. It is being developed under an government settlement between the Azerbaijan Ministry of Energy and energy big BP.
Patrick Jowett
Image: Azerbaijan Ministry of Energy
A groundbreaking ceremony has taken place for the 240 MW Shafag photo voltaic energy plant in Azerbaijan.
The challenge, to be located in the Jabrayil space of southwestern Azerbaijan, is being developed under an government settlement signed between the Azerbaijan Ministry of Energy and bp in June 2021.
A shareholder settlement between bp, alongside Socar Green and the Azerbaijan Funding Company (AIC) by strategy of a joint challenge known as Shafag (Jabrayil) Picture voltaic Diminutive (SJSL), became as soon as signed in October. bp holds a 50.01% stake, while Socar holds 39.Ninety 9% and AIC 10%.
This week’s groundbreaking ceremony also saw an funding settlement signed between the Azerbaijan government and SJSL, besides a land rent settlement between the Ministry of Energy and SJSL.
As soon as performed, the Shafag plant is projected to generate approximately 500 million kWh (500 GWh) of electricity as soon as a year.
A Virtual Energy Switch Mechanism is in place, which is ready to pass in quest of electricity generated by the plant linked to Jabrayil’s existing energy grid. The grid operator will ship an similar amount of energy succor to the Sangachal terminal, an industrial advanced consisting of a natural gas processing plant and oil manufacturing plant.
The living up will enable renewable energy to be used to meet the terminal’s energy wants and aligns with bp’s targets to lower operational emissions in the Caspian space, in step with an announcement from the Ministry of Energy.
Development on the challenge coincides with COP29, in the mean time occurring in Azerbaijan’s capital, Baku.
In protecting with the World Renewable Energy Company (IRENA), Azerbaijan had deployed 282 MW of photo voltaic by the ruin of 2023.
The nation announced its first photo voltaic public sale in April and accredited the enchancment of two unique photo voltaic vegetation totaling 760 MW in June.
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