13 Feb 2023 17:33
Azerenerji starts expanding Mingachevir TPP, investments estimated at $400 mln
BAKU. Feb 13 (Interfax) – OJSC Azerenerji on Monday started to expand its thermal power plant in Mingachevir, which is the largest in the South Caucasus region, by constructing new generating capacity of 1,280 MW.
“According to information provided to me, the total cost should be up to about $400 million. People who are closely familiar with the electric power industry, know that a plant of this capacity should be about 1,300 MW,” Azerbaijan’s President Ilham Aliyev said at the ceremony to pour the first cement for the new TPP capacities.
According to Aliyev, 60% of investments in the project will be Azerenerji’s own funds, and 40% will be in loans.
“The new power plant is going to meet modern standards, which will result in a reduction in hydrocarbon emissions by two million tonnes (…) Reference consumption fuel at the plant under construction is quite low, and this should save from 800 million cubic meters to one billion cubic meters of gas per year,” Aliyev said.
The commissioning of the new station is scheduled for 2025.
“This is a very significant event that should significantly enhance our country’s energy potential, and also further increase the importance of Mingachevir as a center of Azerbaijan’s electricity industry. Mingachevir is already our main city in the area of electricity. The power plant operating in Mingachevir today provides most of the country’s electricity needs,” Aliyev said.
Azerbaijan TPP, Mingachevir, produces around 45% of all electricity generated in the country. The station has eight blocks of 300 MW each. The first unit was launched in 1981.
Aliyev in October 2022 ordered the upgrade of the TPP with an increase in capacity by 1,280 MW in the seventh and eighth power units.