Azerbaijan‘s energy sector”/>
European Bank for Reconstruction and Development (EBRD) plans to invest about $200 million in the Khizi-Absheron wind power plant project.
As Day.Az reports with reference to Trend, this was stated by the director of the State Renewable Energy Agency (AREA) under the Ministry of Energy Javid Abdullaev nand an event at the Baku Shipyard dedicated to the delivery of turbine blades to Baku for the Khizi-Absheron wind power plant.
He noted that the project cost is estimated at approximately $345 million:
“This financing is carried out on the basis of project financing, that is, at the expense of the company’s own finances, as well as attracted financial resources from international financial institutions. It is expected that the European Bank for Reconstruction and Development, as well as the OPEC Fund, will act as international financial institutions in this project. plans to invest about $200 million in this project.
This is one of the most clear indicators of the formation of a stable and favorable investment climate in the country, completely transparent for investors,” Abdullayev said.