Azerbaijan has concluded its first renewable energy auction, allocating 100 MW of solar capacity. The tender was conducted by the Azeri Ministry of Energy with technical assistance from the European Bank for Reconstruction and Development (EBRD), where the Chinese group Universal International Holding Limited submitted the lowest bid, with a competitive tariff of US$3.54c/kWh. The company will now start working towards the commissioning of a 100 MW solar power plant in the Garadagh region (Eastern Azerbaijan). The project is expected to come online in 2027.
Through its Renewable Energy Programme, the EBRD is supporting a total of 18 countries and has helped to conduct almost 5 GW worth of auctions in Albania, Bulgaria, Egypt, Kazakhstan, Serbia and Uzbekistan, and a further 3.5 GW of auctions are planned in Azerbaijan, Bulgaria, Moldova, Montenegro and Romania.
Azerbaijan’s electricity capacity is 6.7 GW, with solar accounting for 4% (end of 2023).
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