BAKU, Azerbaijan, February 11. bp today
announced the sale of a 10% shareholding of Shafag Jabrayil Solar
Limited (SJSL) to MVM Energetika Zrt. (MVM), strengthening the
partnership behind bp’s landmark solar project in Jabrayil,
Trend reports via
bp.
The ownership of Shafag solar project is now: bp 40.01%, SOCAR
Green 39.99%, Azerbaijan Business Development Fund (ABDF) 10%, and
MVM 10%.
"We are pleased to welcome MVM to the Shafag solar project
partnership, building on our successful collaboration in Shah
Deniz. MVM brings extensive experience in power system operation
and transmission management, and we believe this new partnership
exemplifies a collaboration where we can learn from each other to
enhance the overall value, resilience and long-term performance of
the project," said Gio Cristofoli, bp’s regional president for
Azerbaijan, Georgia and Türkiye
The company emphasized that since the final investment decision
last year, the project has progressed significantly, with major
contracts awarded, construction underway, and panel shipments
continuing on schedule. The project is committed to leveraging
local resources and is expected to create up to 400 jobs at the
peak of construction.
Construction is due to be completed in 2027. The 240MW solar
project is expected to generate ~500GWh of renewable energy
annually.
The Shafag solar power plant project is linked to the Sangachal
terminal electrification (STEL) project via a new commercial
structure called ‘virtual power transfer arrangement’, which will
enable the terminal to connect to the national grid, operated by
AzerEnerji, via new facilities to be built both within and outside
the terminal, including a new 220/110 kV electricity
substation.
