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Azerbaijan awards first 100 MW solar project to Universal International

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Azerbaijan has concluded its first renewable energy auction, awarding a 100 MW solar project in the Garadagh region to Chinese company Universal International Holdings.  The company secured the contract with a winning bid of $0.0354 per kilowatt hour (kWh). The auction, opened in April 2024 by Azerbaijan’s Ministry of Energy, was supported by the European Bank for Reconstruction and Development (EBRD). The announcement coincided with the COP29 climate summit in Baku. Azerbaijan’s Minister of Energy,…

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EKI Energy registers Azerbaijan’s first voluntary carbon market solar project

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EKI Energy Services Limited (EKI) has registered Azerbaijan’s first voluntary carbon market project powered by solar energy, marking a significant step toward sustainable energy in the Caucasus and Central Asia. This project, launched ahead of COP29, aims to reduce greenhouse gas emissions by harnessing renewable energy. Located across the Baku and Absheron districts, the solar project has an installed capacity of 230 MW (AC). By supplying clean energy to Azerbaijan’s national grid without fossil fuel…