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The solar plant can generate 500 million kilowatt-hours of electricity annually.
United Arab Emirates-based energy firm Masdar held a groundbreaking ceremony for the construction of the 230-megawatt (MW) solar plant project in Azerbaijan.
In a statement, Masdar said the Garadagh Solar PV Plant, Azerbaijan’s first foreign investment-based independent solar power project, is located nine kilometres northwest of Alat settlement. It is expected to start operations next year.
It will generate 500 million kilowatt-hours of electricity annually, supplying power to over 110,000 houses and will reduce more than 200,000 tons of emissions yearly.
“By diversifying its energy mix, Azerbaijan will be able to drive sustainable development and enhance energy security, while making a major contribution to climate change mitigation,” Masdar CEO Mohamed Jameel Al Ramahi said.
The Abu Dhabi Fund for Development is a key finance partner for the solar project, it said.
CEO Al Ramahi also signed four Memorandums of Understanding with different parties for the development of clean energy projects in Azerbaijan.
Azerbaijan targets to increase the proportion of installed power capacity from renewable sources to 30% by 2030, Masdar said, adding that the country has an estimated solar energy potential of o 23,040MW, citing the International Renewable Energy Agency.