At COP29, Azerbaijan, in collaboration with bp and SOCAR, launched the 240 MW Shafag Solar Plant in Jabrayil. An Investment Agreement and Land Lease Agreement were signed between Azerbaijan’s government, Ministry of Energy, and Shafag (Jabrayil) Solar Limited. The $200 million project brings together bp, SOCAR, and the Azerbaijan Investment Company. The plant aims to generate 500 million kWh annually, saving 120-150 million cubic meters of gas and reducing CO₂ emissions by up to 330,000 tons. Using a Virtual Power Transfer Arrangement, the energy will be integrated into the grid to power the Sangachal Terminal.
Azerbaijan, bp, and SOCAR unveil 240 MW Shafag PV plant
Shafag Solar Plant will cut 330,000 tons of CO₂ emissions and save 150 million cubic meters of gas yearly. (Image Source: Ministry Of Energy of The Republic of Azerbhaijan)
SECI projects totaling 1,023 MW were commissioned in Jaisalmer, Rajasthan, by Acme Solar, utilizing ISTS connections and SECI PPA financing. (Image Credit/Source: Andreas160578/Pixabay)
Actualize Solar has signed five long-term PPAs in 2024, advancing its 1.5 GW solar project portfolio across six US states. (Image Source: Businesswire)
Located in Enna and Catani a, the 242.78 MW solar plant was designed to produce 400 GWh annually, meeting the needs of 154,000 households. (Inage Source: Iberdrola)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)