BAKU, Azerbaijan, March 11. A project of floating solar power plant with a capacity of 100 kW (95 kW offshore, 5 kW onshore), implemented by the Asian Development Bank (ADB) is expected to be completed in April 2023, Candice McDeigan, ADB Country Director in Azerbaijan, told Trend.
"We are currently implementing a pilot project for the installation of floating solar panels in lake Boyukshor that will generate 100 KW. ADB will consider upscaling, if this pilot project promises further opportunities," she added.
McDeigan also noted that ADB has supported a number of successful projects in Azerbaijan’s energy sector, and is committed to supporting the Government’s renewable energy agenda.
"ADB recently approved a $21.4 million solar power project which is the first significant private sector renewable energy investment in Azerbaijan’s history. Under the project, Masdar Azerbaijan Energy LLC will install a 230-megawatt solar power facility near Alat settlement in Azerbaijan," she said.
To date, ADB has committed 65 public sector loans, grants, and technical assistance totaling $3.7 billion to Azerbaijan. Cumulative loan disbursements to Azerbaijan amount to $3.93 billion. These were financed by regular and concessional ordinary capital resources. ADB’s ongoing sovereign portfolio in Azerbaijan includes 2 loans and 1 sovereign guarantee worth $856.8 million.