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.