BAKU, Azerbaijan, March 6. The issue of participation of the State Oil Company of Azerbaijan (SOCAR) and the Azerbaijan Investment Company (AIC) in the Shafag solar power plant (SPP) project with a capacity of 240 MW will become clear at the end of 2024, an informed source at bp exclusively told Trend.
“In the autumn of 2024, the final investment decision on the Shafag SPP is expected, that is, the cost of this will be clarified, taking into account the proposals of contractors for solar panels and other equipment, service work. Only after this will a decision be made on the participation of SOCAR and AIC in the project (by shares, in terms of costs). Until this moment, bp bears all expenses for the Shafag project independently," the source noted.
Previously, the creation of the Shafag SPP was tentatively estimated at $200-300 million, but the cost will depend on the results of bp tenders for the selection of companies supplying solar panels and other equipment.
Lightsource bp will be responsible for the construction, commissioning and operation of the station. The electricity produced by the power plant will eventually be transmitted to the national power grid of Azerbaijan. As part of the project, it's also planned to construct a 33/330 kV substation.
In accordance with the schedule, from July through October 2024, the Lightsource bp company plans to carry out work to mobilize forces and resources (labor, equipment, etc.) and prepare the territory.
The SPP's construction in the Jabrayil district of Azerbaijan can start at the end of 2024 and will take 18 months.
The plant is expected to annually generate 500 million kWh of electricity.
