Khizi - Absheron wind park

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This project involves the construction of Khizi - Absheron wind park, located in Absheron and Khizi regions, in the areas of Chayli and Sitalchay villages. Investment Agreement, Power Purchase Agreement and Transmission Connection Agreement were all signed on December 29, 2020 for a period of 20 years, on a Build Own Operate (BOO) basis. The total capacity of the Khizi - Absheron wind park will be 240 MW and will supply around 300 thousand homes in Absheron and Khizi regions. The generated energy will be sold at at 0.055 AZN or $0.032 per kWh. Total investment stands at $348 million, of which $167 million loan is provided by the European Bank for Reconstruction and Development (EBRD) and $50 million loan comes from OPEC Fund. The Saudi Arabia's ACWA Power is the sponsor for this project and ACWA Power Azerbaijan Renewable Energy Limited Liability Company is the project company. Financial close took place on October 18, 2023. https://opecfund.org/operations/list/azerbaijan-240mw-wind-power-plant https://www.ebrd.com/work-with-us/projects/psd/52735.html https://renewablesnow.com/news/acwa-power-breaks-ground-on-240-mw-azeri-wind-park-eyes-offshore-769244/ https://www.acwapower.com/media/341616/azerbaijan-wind-ipp-2021-comp.pdf https://caspiannews.com/news-detail/azerbaijan-saudi-arabias-acwa-power-break-ground-for-300m-wind-farm-2022-1-15-0/ https://acwapower.com/en/projects/azerbaijan-wind-ipp/