NEWS CONTACTS

ANNOUNCEMENT

Azerbaijan Investment Company OJSC (AIC) announces a competition for the selection of potential investors to invest in the project (Project) for the restoration and operation of Small Hydroelectric Power Plants (SHPP) located in Kalbajar and Lachin regions.

The purpose of the project is to restore (reconstruct) the small hydroelectric power plants specified in Appendix 1, which is part of this announcement, based on the principles of public-private partnership, to organize their operation and exploitation, and to sell the produced energy to the state network. To do this, a potential partner-investor who will participate in the project must have financial and technical experience in the relevant field.

To participate in the competition, applicants must submit the following documents :

• Local Bidders

1. Incorporation and registration documents (charter, TIN certificate and extract from the state register, notarized copy);

2. Certificate of the relevant tax authority on the absence of overdue obligations on taxes and other obligatory payments in the Republic of Azerbaijan (notarized copy);

3. Financial sustainability of the company (bank reference and audited financial statements of financial position, with a turnover of more than 1 million AZN yearly over the past three consecutive years);

4. Information on the company's business management and team, including information on the projects implemented by the company in the field of electricity production and administration and operation of power plants over the past three years;

Foreign Bidders

1. Incorporation and registration documents

2. Financial sustainability of the company (bank reference and audited financial statements of financial position, with a turnover of more than 1 million AZN yearly over the past three consecutive years);

3. Information on the company's business management and team, including information on the projects implemented by the company in the field of electricity production and management and operation of power plants over the past three years;

Note 1: Additional documents and information may be requested from the local and foreign bidders during the analysis.

Note 2: Apostilled copies of documents will be required if the foreign bidder proceeds to the next stage.

Note 3: The selected investor and (or investors) will conduct a financial and economic feasibility study of the project and decide on its implementation if its investment efficiency is deemed acceptable.

Note 4: The share of AIC in the authorized capital of a legal entity created jointly with a selected investor for project management of the project is not more than 30%. The remaining 70% of the authorized capital must be provided by the winning investor (or investors).

At the same time, based on the project's financial model, the share of AIC must be bought out by the principal shareholders within the period agreed in advance between the parties.

Investors participating in the competition can submit the documents mentioned to the Azerbaijan Investment Company OJSC by  16th December, 2022.

Address:

25E 8 November ave.,  Baku city, AZ 1025

Baku White City Office Building, 3rd floor,

Phone: +994 12 488 80 10

Documents received after the deadline for submission will be returned unopened.

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