Azerbaijan awards first 100 MW solar project to Universal International
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,…