On June 2, during the Baku Energy Week in Azerbaijan, Universal Energy officially signed a Power Purchase Agreement (PPA), a Transmission Connection Agreement (TCA), and a Land Lease Agreement (LLA) for its 100MW solar project with Azerbaijani authorities, marking a significant milestone in the company’s project advancement in the country.

Previously, at the COP29 conference in 2024, Universal Energy secured the 100MW solar project through a competitive international tender. This project is Azerbaijan's first publicly tendered renewable energy initiative.

During the recent Baku Energy Week, Universal Energy signed the PPA with Azerenerji OJSC. According to the agreement, the project will be located in the Gobustan region, approximately 80 kilometers southwest of Baku, and is expected to commence operations by mid-2026, with a 25-year power offtake term. Upon completion, the plant is projected to generate 180 million kWh of electricity annually, reducing carbon emissions by approximately 146,520 tons per year, significantly supporting Azerbaijan's low-carbon energy transition.

Additionally, Universal Energy signed the TCA with Azerenerji OJSC to ensure smooth grid integration, as well as the LLA with Azerbaijan's Ministry of Energy to secure legal rights for project land use.

Currently, preparatory work for the 100MW solar project is progressing in an orderly manner. Leveraging its extensive experience in overseas project development, construction, and operation, Universal Energy is committed to delivering a high-quality project that will provide stable, clean, and affordable green energy to the region.