Agent banking support by ABB Bank for greenenergy projects

In line with Azerbaijan’s national target of achieving 8 GW of installed capacity in the green energy sector by 2032, ABB Bank actively participates in the implementation of renewable energy projects across the country. Currently, the Bank acts as an agent bank for projects of Masdar, ACWA and Universal Solar companies being implemented in various regions of Azerbaijan.

One of these projects is a 445 MW solar power plant being developed by Masdar in the Bilasuvar district. The project will enable more than 190,000 households to be supplied with electricity and will help prevent over 393,000 tonnes of CO₂ emissions annually.

ABB Bank also supports Masdar’s 315 MW solar power plant project being developed in the Banka settlement of the Neftchala district. The plant will provide electricity to more than 140,000 households and prevent 280,000 tonnes of CO₂ emissions annually.

In addition, the Bank, in partnership with ACWA, supports the development of an onshore wind power project in the Absheron-Khizi district. With a capacity of 240 MW, the project will provide more than 300,000 households with green electricity and help prevent over 400,000 tonnes of CO₂ emissions annually.

Another successful green energy project implemented with the support of ABB Bank is a 100 MW solar power plant in the Garadagh district. The project will help provide electricity to approximately 50,000 households and prevent more than 146,500 tonnes of CO₂ emissions annually.

Thus, the total capacity of green energy projects implemented with the participation of ABB Bank as an agent bank represents an important initial contribution towards achieving the target set by Azerbaijan for 2032 in this area.

Information about modern, useful and universal products and services of ABB Bank is available at the Bank’s branches and offices, on the official website //abb-bank.az/, through the Information Centre by calling 937, as well as on the Bank’s official corporate social media pages.