EBRD approves 100 mln USD loan for solar project in Azerbaijan

BAKU, Sept. 20 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) has approved a loan of 100 million U.S. dollars to finance a 445-megawatt solar photovoltaic power plant in Azerbaijan's Bilasuvar region, EBRD announced Friday.

This project aims to enhance Azerbaijan's renewable energy capacity and reduce reliance on natural gas, aligning with the country's commitments under the Paris Agreement.