Azerbaijan and Ukraine are discussing the construction of a 1,000-megawatt storage power plant in Mingachevir with a preliminary cost estimate of $1.5 billion. No final investment decision has been announced.
The project was discussed during a meeting between energy officials from the two countries in Uzhhorod, Ukraine, Vesti Baku reported. The plant would be built using Ukrainian experience and technology.
Azerbaijani Energy Minister Parviz Shahbazov said Baku was interested in deepening its energy partnership with Kyiv. Companies from both countries are also involved in the talks.
Project Terms Remain Preliminary
The proposed capacity and budget are part of a concept under discussion. Financing sources, a construction timetable and the ownership stakes of potential participants have not been publicly disclosed.
Storage power plants retain electricity during periods of low demand and return it to the grid during peak consumption. Such a facility could strengthen Azerbaijan’s power system as the share of renewable generation grows.