230 MW Garadagh Solar PV Plant in Azerbaijan

Solar PV Plant promotion image with solar panels

Synergy Consulting is honored to be the Financial Advisor to Masdar on the Garadagh Solar PV project in Azerbaijan, the nation’s first foreign investment-based independent solar power project. Synergy provided Financial Advisory Services to Masdar including preparation of financial model, raising financing for the project, finance document negotiation and other related work streams.

The Project achieved Financial Close financed by European Bank for Reconstruction and Development (EBRD), Asian Development Bank (ADB), Abu Dhabi Fund for Development (ADFD) and Japan International Cooperation Agency (JICA). Commercial operations of the Project are expected in 2023. Once operational, the Project will help to generate half a billion kilowatt-hours of electricity annually for meeting the needs of more than 110,000 homes and will reduce emissions by more than 200,000 tonnes a year.