Asian Development Bank and Masdar fund $160M for Azerbaijani solar plants, adding 760 MW of clean energy.

The Asian Development Bank and Abu Dhabi's Masdar signed a $160 million loan to build two large solar power plants in Azerbaijan. Located in Bilasuvar and Neftchala, these plants will add 760 MW of clean energy, offsetting 725,000 tons of CO2 annually and tripling the country's solar capacity. The project aims to enhance energy security and serve as a model for sustainable development in the region.

November 16, 2024
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