ADB to allocate loan for power plant construction in Azerbaijan
Date
3/31/2022 4:22:17 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, March 31. The Asian
Development bank (ADB) will provide a $23.2 million loan to Masdar
Azerbaijan energy company for the construction and operation of the
Garadagh solar power plant [in Azerbaijan's Alat settlement] with
an installed capacity of 230 MW, Trend reports citing ADB.
Previously, European Bank for Reconstruction and Development
(EBRD) also expressed readiness to allocate a long-term loan of up
to $51 million for the development, construction, and operation of
the Garadagh solar plant within the Alat Solar project.
The Board of Directors of the EBRD will consider the approval of
the loan on April 27.
Masdar Azerbaijan Energy is a company registered in Azerbaijan
with the aim of implementing a project for the construction and
commissioning of the Garadagh solar power plant.
Based in the UAE, Masdar is a regional leader and a major
international player in the field of renewable energy and
sustainable urban development.
Tags:
- ADB
- Azerbaijan
- loan
- solar power plant
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