Citaglobal to build Azerbaijan's first RE project with solar power

NST Fri, Nov 15, 2024 06:41pm - 1 month View Original


KUALA LUMPUR: Citaglobal Bhd has entered into a deal with the Port of Baku to develop a 5.4 megawatt solar photovoltaic (PV) facility in Azerbaijan.

This marks Azerbaijan's first commercial renewable energy project integrating solar power with a cutting-edge battery energy storage system (BESS).

The initiative represents a significant step forward in Azerbaijan's renewable energy ambitions, supported by a 21-year power purchase agreement (PPA) that guarantees fixed tariffs, ensuring cost stability and sustainability for the Port of Baku.

The green energy project will be led by Tiza Green Energy LLC, a joint venture established by Tiza Global Azerbaijan LLC and Citaglobal Renewable Energy Sdn Bhd, a wholly-owned subsidiary of Citaglobal.  

The agreement was signed during the United Nations Climate Change Conference's (COP 29) Green Energy Day.

"This agreement is a major milestone in advancing Azerbaijan's renewable energy landscape with an innovative solution that seamlessly integrates solar power and BESS technology," said Tiza Green president and Citaglobal Bhd executive chairman Tan Sri Dr. Norza Zakaria.

Citaglobal said while the project's capacity is modest, it sets a new benchmark for the country's energy transition by combining solar power, BESS and grid connectivity.  

Port of Baku director-general Dr Taleh Ziyadov said, "Our partnership with Tiza Green Energy significantly enhances energy management capabilities, aligning with our goal of achieving zero emissions by 2035."  

The pioneering project underscores Azerbaijan's commitment to sustainable energy and innovation, positioning the Port of Baku as a leader in green infrastructure, he added.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

CITAGLB 0.885
CITAGLB-PA 1.000
CITAGLB-WB 0.520

Comments

Boo man
Like · Reply
confirm scam

Login to comment.