The winner of the auction for the construction of the 100 MW Gobustan Solar Power Plant, carried out with the support of the European Bank for Reconstruction and Development (EBRD) within the framework of COP29, has been announced, Ministry of Energy told APA-Economics.
The company Universal International Holdings Limited, which submitted the lowest bid for the price per kilowatt-hour of electricity, won the auction. The plant, which is planned to be commissioned in 2027, is expected to produce around 260 million kilowatt-hours of electricity annually. This will not only save about 57 million cubic meters of natural gas each year but will also reduce carbon emissions by 124,000 tons.
Energy Minister Parviz Shahbazov said: "The successful completion of the auction for the 100 MW Gobustan Solar Power Plant is another important achievement in Azerbaijan's renewable energy sector. The victory of China’s Universal International Holdings Limited confirms the increasing interest and confidence of international investors in our green energy projects. This auction, carried out with the support of the EBRD and the results announced at COP29, demonstrates Azerbaijan's commitment to international cooperation, sustainable development goals, and the realization of its green energy potential. This success will accelerate our energy transition process and further strengthen our contribution to global climate targets."
