ADB to support construction of solar power plant in Azerbaijan

By Trend

Asian Development Bank will support construction of Garadagh solar power plant in Azerbaijan, Country Director in Azerbaijan of the Asian Development Bank (ADB) Candice McDeigan told Trend.

According to her, the board of directors of ADB signed an agreement with Masdar Azerbaijan Energy LLC, to provide it a $35.7-million loan for the project to be taken off the ground.

“This together with other IFC, who will also join the transaction, will be ADB's first renewable energy project in Azerbaijan of this scale," McDeigan said.

The solar power plant which will generate 230 MW will be constructed in the country’s Alyat village.

The project supports the three operational priorities of ADB's Strategy 2030: combating climate change, building resilience to climate change and natural disasters, and building environmental resilience.