According to Wechat Official Account @gh_b784c0615fdb, on April 22nd, during the state visit of Azerbaijani President Ilham Aliyev to China, Nan Yi, Chairman and President of Universal Energy, and Parviz Shahbazov, Minister of Energy of Azerbaijan, signed an investment agreement in Beijing for a 100MW solar photovoltaic project in Azerbaijan.
Previously, at the COP29 conference held in 2024, Universal Energy stood out among several international power investment companies, including Saudi Arabia's ACWA Power and the UAE's Masdar, to win the bid for the aforementioned project, marking Azerbaijan's first publicly tendered new energy project.
The project has a total investment of approximately US$51 million and is located in Gobustan, 80 kilometers southwest of Azerbaijan's capital, Baku. It is scheduled to commence operation in mid-2026. Upon completion, its annual power generation will reach 180 million kWh, equivalent to reducing carbon emissions by approximately 146,520 tons annually for the local area.
According to the agreement, the Azerbaijani government will provide support in various aspects such as taxation, land, and grid connection for the project's investment and construction, and will coordinate with relevant domestic departments in Azerbaijan to facilitate the project's implementation. The signing of the agreement will further ensure the smooth progress of the project and contribute to the company's long-term development in Azerbaijan.
During the meeting, Nan Yi briefed on the current progress of the 100MW solar photovoltaic project in Azerbaijan, stating that Universal Energy will efficiently and with high quality complete the project construction based on this agreement, promote the development of green energy in Azerbaijan, and provide clean, safe, and reliable green electricity for local residents.
Minister Parviz Shahbazov congratulated Universal Energy on successfully winning the bid for Azerbaijan's first publicly tendered new energy project. He stated that the Azerbaijani government will fully support the company's investment and construction in Azerbaijan and hopes that Universal Energy can bring advanced new energy technologies to Azerbaijan, contributing to the local energy green and low-carbon transition.
Source：https://mp.weixin.qq.com/s/a3KPZmFIKcLYTkQGZ9-G2g
