BAKU, Azerbaijan, Feb.15
By Leman Zeynalova – Trend:
bp continues to work with Azerbaijan’s Ministry of Energy to assess the solar power plant project in the Zangilan/Jabrayil region and get all of its aspects ready to get it started, bp Azerbaijan told Trend.
“The current works include technical and commercial evaluation of the project, work on the plant design, discussions around provision of financing and other outstanding discussions that are required to bring the project to the final investment decision,” the company said.
In June 2021, Azerbaijan’s energy ministry and bp signed an Implementation Agreement on cooperation in the evaluation and implementation of a project to build a 240MW solar power plant in the Zangilan/Jabrayil region.
The signing of the document serves the establishment of a "green energy" zone in the liberated territories of Azerbaijan and stems from the strategic decision on the development of the renewable energy sector in Azerbaijan, the country’s commitment to reduce carbon emissions by 35 percent by 2030 and bp's strategy to become a "net zero emissions" company by 2050.
Cooperation within the Implementation Agreement covers areas such as the technical and commercial evaluation of the solar energy project, plant design, provision of financing and the adoption of the final investment decision.
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