Azerbaijan Inks Major Deal With Chinese Firm For Gobustan SPP Project

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 23. The Government of the Republic of Azerbaijan and Universal Solar Azerbaijan LLC-a subsidiary of China-based Universal Energy Co., Ltd.-have signed an Investment Agreement for the development of the“Gobustan” solar power plant (SPP) project, Trend reports via the country's Ministry of Energy.

The agreement outlines the construction and operation of a solar power station with a planned capacity of 100 megawatts in the Gobustan region. In the next phase, additional agreements will be signed with the company, including power purchase, grid connection, and land lease contracts.

The solar plant, scheduled to be operational in 2026, is expected to generate approximately 180 million kilowatt-hours of electricity annually. This will not only result in the saving of around 39 million cubic meters of natural gas each year but will also reduce carbon emissions by an estimated 86,000 tons annually.

The collaboration with the Chinese company was established through a competitive bidding process.

During the official visit of the President of the Republic of Azerbaijan Ilham Aliyev, six documents were signed in the field of renewable energy cooperation.

These agreements cover a range of projects, including solar power plants with a combined capacity of 260 megawatts, a 100-megawatt floating solar plant, a 30-megawatt battery energy storage system, offshore wind power development with a minimum capacity of 2 gigawatts, and a 2-megawatt onshore wind energy project. The agreements also include cooperation in the planning of renewable energy and electricity systems.

MENAFN23042025000187011040ID1109462343