BAKU, Azerbaijan, February 19. Construction of the 240 MW Shafag solar power plant (SPP) in Azerbaijan's Jabrayil will begin in 2024, bp's Vice President for the Caspian region, Communications and External Affairs Bakhtiyar Aslanbayli told reporters, Trend reports.
"Preparatory work is already being completed. Mine clearance work in the Jabrayil district will be completed very soon. Final technical and commercial aspects on the final investment decision (FID), which will be approved in the second half of the year, have been already determined. After this, work will begin on laying the foundation of the SPP and its construction," Aslanbayli said.
The initial cost of Shafag was estimated at $200 million, but namely after the FID's signing this year the exact cost of the work will be announced.
Moreover, this year, the share participation of bp, SOCAR and the Azerbaijan Investment Company in this project will be announced.
To note, the Ministry of Energy of Azerbaijan and bp signed an executive agreement on cooperation in the field of evaluation and implementation of the SPP construction project on June 3, 2023.
The document concerns not only the construction of the Shafag power plant, but also broad participation in the creation of a green energy zone in the liberated territories.
The SPP will be built and commissioned at the end of 2025.
For the first time in Azerbaijan, a virtual swap mechanism will be used, in which electricity from the facility will be used in the area of construction of the facility, and a similar amount of electricity will be transferred from the Azerishiq JSC's network to the Sangachal terminal of Azerbaijan (operated by bp).
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