Bilasuvar solar (445MW)

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This project comprises the development of the 445 MW Bilasuvar Solar PV Power Plant, located in Bilasuvar region, Azerbaijan. The project encompasses the construction, operation, and maintenance of a utility-scale solar power facility that will add energy capacity to the region. Once operational, the plant is expected to offset approximately 442,000 metric tonnes of carbon dioxide emissions annually and contribute to tripling Azerbaijan’s solar energy capacity. The project is sponsored by Abu Dhabi Future Energy Company PJSC (Masdar) and SOCAR Green, a subsidiary of SOCAR, Azerbaijan's national oil company. Financing for the plant, totaling $383 million, is provided by the Asian Development Bank (ADB) with $98 million support, the European Bank for Reconstruction and Development (EBRD) with $95 million, and the Asian Infrastructure Investment Bank (AIIB) with $80 million, and sponsor's equity contribution of $110 million. Financial close is achieved on November 17, 2024. https://masdar.ae/en/news/newsroom/masdar-and-socar-green-achieve-financial-close-for-760mw-of-solar-projects-in-azerbaijan; https://www.ebrd.com/work-with-us/projects/psd/55493.html; https://www.aiib.org/en/news-events/news/2024/aiib-signs-landmark-private-sector-solar-pv-project-in-azerbaijan-at-cop29-in-baku.html; https://www.adb.org/projects/58220-001/main