Synergy Consulting Inc. is honored to act as the Lead, Commercial and Financial Advisor to the Government of Azerbaijan for the 100 MW Gobustan Solar PV Project in Azerbaijan.
The Government of Azerbaijan (“GoA”) has successfully concluded the dynamic auction for the 100 MW Gobustan Solar PV Project in the Garadagh region with Universal International Holding Limited submitting the lowest tariff of US$ 3.540 cents/kWh.
The PPP tender was procured by the Ministry of Energy (MoE) of the Republic of Azerbaijan, and the Auction Commission comprising the various government ministries such as the Ministry of Economy, Ministry of Finance, Ministry of Ecology and Natural Resources, Executive Power of Baku City, Azerenerji OJSC (the Buyer and the Transmission System Operator) and MoE.
The European Bank for Reconstruction and Development (“EBRD”) is supporting GoA with the preparation and procurement of this project.
The advisory group supporting the project includes Synergy as the Project’s lead, commercial and financial advisor; Sargent & Lundy as the technical advisor; CMS as the legal advisor; and MGB as the local legal advisor.
News Citation: https://www.ebrd.com/news/2024/azerbaijans-first-renewables-auction-concludes-at-cop29-with-ebrd-support.html (Azerbaijan’s first renewables auction concludes at COP29 with EBRD support)
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