BAKU, Azerbaijan, March 6. Over 32 years, bp-operated projects in Azerbaijan have received a cumulative investment of $84 billion, said Head of the Press Service of BP-Azerbaijan Tamam Bayatly during a public meeting to discuss the preliminary version of the Environmental and Social Impact Assessment (ESIA) document for the Shafagh SPP project, Trend reports.
"bp and partners have invested a total of 84 billion dollars in project activities in Azerbaijan over 32 years," said Bayatly.
She emphasized that the initial green project, the Shafag solar power plant, with a capacity of 240 MW and located near Jabrayil, will be implemented in 2024 as a watershed moment in the company's operation in Azerbaijan.
"The investment amount for this project will be determined by year-end, contingent on tender outcomes. The company anticipates finalizing the investment decision with the Azerbaijani government for the solar power plant's construction by the same deadline," Bayatly emphasized.
bp did not rule out fully financing this project, and clarity is expected within a year. The first estimates placed the investment in this solar energy system (SPP) at $200 million. SOCAR and the Azerbaijan Investment Company (AIC) declared their interest in participation in the autumn of 2023, as demonstrated by a signed pact. The specifics of their participation in the initiative are now being reviewed.
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