Within the framework of COP29, the groundbreaking ceremony for the 240 MW "Shafag (Sunrise)" Solar Power Station was held in the Jabrayil region. During the ceremony, the Investment Agreement was signed between the Government of the Republic of Azerbaijan, represented by Parviz Shahbazov, the Minister of Energy, and "Shafag (Sunrise) (Jabrayil) Solar Limited" (SJSL), represented by Murray Auchincloss, the CEO of Global bp. Additionally, a Land Lease Agreement was signed between the Ministry of Energy of the Republic of Azerbaijan and SJSL. At the groundbreaking event, the first solar panel of the solar power station was signed by officials from the Ministry of Energy, SOCAR, bp, and the Azerbaijan Investment Company (AIC).
SJSL is a joint venture formed through the signing of a Shareholder Agreement for the "Sunrise" project, which includes the construction of a 240 MW solar power plant in the Jabrayil region. The agreement was signed by AIC, SOCAR, and bp during the Baku Climate Action Week. The shareholders of "Shafag (Sunrise) (Jabrayil) Solar Limited" are bp, SOCAR, and AIC, with an estimated total investment of around USD 200 million. This plant represents the first industrial-scale solar energy project in the liberated territories and is the largest foreign direct investment (FDI) project in the region.
The "Shafag (Sunrise)" Solar Power Plant (SPP) is expected to produce approximately 500 million kWh of energy annually. This will result in a savings of 120-150 million cubic meters of natural gas and a reduction in carbon emissions by 260,000 to 330,000 tons. Through the Virtual Power Transmission Agreement (VPTA), the energy generated at the station will be transferred to the electric grid in the Jabrayil region, while an equivalent amount of energy will be supplied to the Sangachal terminal. This arrangement will help reduce operational waste in the Caspian region by meeting the Sangachal terminal's energy needs with renewable energy.
AIC's involvement in the "Shafag (Sunrise)" project is significant not only from an economic perspective but also in terms of Azerbaijan’s long-term goals for the green energy sector and environmental sustainability.
