BAKU, Azerbaijan, April 4. The Asian Development Bank (ADB) is proposing $35.7 million senior loan to Masdar Azerbaijan Energy for the construction and commissioning of Alat Solar Power Plant Project with an installed capacity of 230 MW, Trend reports citing the ADB.
According to the bank, the project to build this power plant is part of ADB's strategy of actions against climate change, increase climate and disaster resilience, and environmental sustainability.
The implementation of this project will help increase economic sustainability through support for the non-oil and private sectors, also improve access to finance, the ADB noted.
Masdar Azerbaijan Energy is a company registered in Azerbaijan with the aim of implementing a project for the construction and commissioning of a solar power plant.