EBRD to allocate USD 51 mln. for construction of Garadagh Solar Power Plant – EQ Mag Pro
The European Bank for Reconstruction and Development (EBRD) has allocated a long-term preferential loan in the amount of USD 51 million for the development, construction and further operation of the Garadagh Solar Power Plant to be built in Azerbaijan by the UAE’s Masdar Company, APA-Economics reports quoting the EBRD.
The loan, which is currently undergoing concept testing and awaiting final review, is expected to be approved on April 27. Masdar Azerbaijan Energy LLC, established to implement the project in the country, will act as a borrower in the project. The UAE company Masdar will sponsor the project.