Nobel Energy, part of NEQSOL Holding, will construct a 400 megawatt (MW) solar power plant in Nakhchivan, a region in the southwest of Azerbaijan, based on a memorandum of understanding (MoU) signed with Azerbaijan’s Ministry of Energy.
The MoU was signed by Elnur Soltanov, Deputy Minister of Energy Azerbaijan, and Vugar Samadli, CEO of Nobel Energy, in a special ceremony on “Green energy potential of Nakhchivan and Eastern Zangazur” held in Nakhchivan last month.
The solar power plant will leverage advanced solar technology to generate clean and reliable electricity. The project aims to use the vast green energy potential of Nakhchivan for supplying both Türkiye and the domestic market.
“This development follows our transformation strategy to be part of the solutions to help all our stakeholders to get affordable and reliable energy while reducing environmental impacts. It reflects our shared commitment with the government to harnessing the potential of renewable energy to drive economic growth and sustainable development,” Vugar Samadli said at the signing ceremony.
“We look forward to the next steps in our journey aimed to empower sustainable development, create new opportunities, and make a lasting positive impact. The future holds immense potential, and we are eager to embark on this transformative path. I extend my gratitude to the government for their trust and opportunity to deliver this significant project,” he added.
The construction of a solar power plant in Nakhchivan also sits well with the Azerbaijani government’s systematic efforts in shifting to clean energy and reducing carbon emissions by establishing “green energy zones” across the country.
Azerbaijan’s authorities intend to increase the share of renewable energy in the country’s overall energy production to 30 percent by 2030. To make this happen, Azerbaijan has adopted the Law on the Use of Renewable Energy Sources (RES). Baku is currently developing a five-year RES strategy.
The Azerbaijani government also plans to transform the liberated Karabakh (Garabagh) and East Zangazur regions fully into a “Netto Zero Emission” Zone as a priority within the ongoing reconstruction and development projects, as well as reduce carbon dioxide emissions by 40 percent by 2050. The green energy potential of the liberated territories of Azerbaijan includes almost all types of renewable energy sources, including hydro, solar, wind, and geothermal.
The Fuzuli, Jabrayil, and Zangilan districts come in at number two after the Nakhchivan Autonomous Republic in Azerbaijan for their rich solar power resources. The solar radiation per square meter in these regions is reportedly amounted to 1600-1700 kWh per year, while the total solar energy potential is estimated at 7,200 megawatts.
In March 2022, the UAE-based Masdar laid the foundation for a 230-MW solar power plant in Azerbaijan. Masdar’s plant is scheduled to become operational in 2023 with an overall energy output of nearly half a billion kilowatt-hours of electricity per annum, which is enough to supply power to over 110,000 houses.
BP is also gearing up to launch a 240-MW solar power station in the liberated Jabrayil district. The project, dubbed “Shafag”, will reportedly come online sometime in 2026.
President Ilham Aliyev said earlier this year that negotiations have been underway with foreign investors for the construction of a 500-MW photovoltaic station in the territory of Azerbaijan.