A memorandum of understanding was signed between the state-owned “Azerbaijan Investment Company” OJSC, private “Caspian Hydrogen Development Group” LLC (Caspian HDG) and “Elecnor Company” (Spain) for the implementation of a project for the construction of a Garadagh wind farm. Economy Minister Mikayil Jabbarov wrote about it in his account of the social platform Facebook.

No details of the document, including the volume of investments and the share participation of the parties have been disclosed yet.

Note that the “Garadagh Wind Farm” project will be implemented in Garadagh district of Baku, in the immediate vicinity of SOCAR’s cement base, cement plants – “Norm” and “Holcim”. The area of the site is about 36 hectares and the adjacent vacant land is 300 hectares. The surface is a part of a hilly plain with height differences from -26 m at the shoreline to 100 m on the northwestern boundary of the site. The project site is in an uninhabited area, “Caspian HDG” says on its website http://www.caspianhdg.com/our-project/.

The estimated design capacity of the power plant is 37.8 MW. The generated electricity will be sold to industrial consumers – residents of the industrial zone, and a part of the residual volumes will be supplied to the national grid (the state company “Azerenerji”) at the “green” tariff established by the state. The key customer, a large global corporation that operates the largest power plant in the area, has undertaken to buy most of the electricity generated. No name of this company has yet been disclosed.

Recall that the “Caspian Hydrogen Development Group” LLC was established in January 2021. https://vergiler.az/news_print.php?announcement_id=32766. Director of the company is Farid Tofig oglu Abasov. Members of the Supervisory Board are Teymur Mitat oglu Abasov, Emin Jamo oglu Hajinski and Kamil Rasim oglu Bagirov

Source: Turan News Agency