MILAN, Italy, May 6. The construction of the 240MW Absheron-Garadagh Onshore Wind power plant in Azerbaijan is going to start if not by end of this year, beginning of next year, Maryam Rashed Al Mazrouei, Head of Business Development and Investment, CIS Region at Masdar told Trend on the sidelines of the 58th Annual Meeting of the Asian Development Bank (ADB).
“We signed the project agreement last year. We're developing this project together with our partners and currently the project is under a very advanced stage of development. Hopefully, we're going to achieve the financial close very soon,” she said.
In June 2024, Masdar and SOCAR broke ground on three major solar and wind projects in Azerbaijan with a capacity of 1 gigawatt (GW).
The three groundbreakings include the 445MW Bilasuvar Solar PV Project, 315MW Neftchala Solar PV Project and the 240MW Absheron-Garadagh Onshore Wind Project. Investment agreements for the projects were reached in October 2023, followed by the signing of Power Purchase Agreements, Transmission Connection Agreements, and Land Lease Agreements.