British energy giant BP has announced final investment decisions for two major projects in Azerbaijan: the construction of the 240 MW Shafag solar power plant in Karabakh and the electrification of the Sangachal terminal near Baku.
In partnership with the Azerbaijani government, BP signed an agreement to build the Shafag solar power plant in the Karabakh region. The facility will have a capacity of 240 megawatts and is expected to cost approximately $200 million. Construction is scheduled to be completed by mid-2027.
The Shafag plant marks a significant milestone in Azerbaijan's renewable energy ambitions and is part of the broader efforts to develop the formerly conflict-affected Karabakh region.
In a separate development, BP and its partners also approved an investment decision to electrify the Sangachal terminal — one of the world’s largest integrated oil and gas processing terminals. The project, known as STEL (Sangachal Terminal Electrification Project), is valued at $230 million. It will be implemented and operated by BP, with construction set to begin in 2025.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 26th June, covering the latest developments you need to know.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 26th June, covering the latest developments you need to know.
President Donald Trump has unveiled a nearly $900 billion defence plan for 2026, keeping spending flat but shifting firepower toward cutting-edge missiles and drones in a bid to counter China and modernise America’s military edge.
U.S. Homeland Security Secretary Kristi Noem is visiting Central America to strengthen cooperation on curbing drug trafficking and reducing undocumented migration to the U.S., meeting leaders in Panama, Costa Rica, and Honduras.
The White House plans to restrict classified intelligence sharing with Congress after media leaks contradicted President Donald Trump’s claims about the success of U.S. airstrikes on Iranian nuclear sites, setting up a tense briefing with lawmakers.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 26th June, covering the latest developments you need to know.
President Donald Trump has unveiled a nearly $900 billion defence plan for 2026, keeping spending flat but shifting firepower toward cutting-edge missiles and drones in a bid to counter China and modernise America’s military edge.
U.S. Homeland Security Secretary Kristi Noem is visiting Central America to strengthen cooperation on curbing drug trafficking and reducing undocumented migration to the U.S., meeting leaders in Panama, Costa Rica, and Honduras.
The White House plans to restrict classified intelligence sharing with Congress after media leaks contradicted President Donald Trump’s claims about the success of U.S. airstrikes on Iranian nuclear sites, setting up a tense briefing with lawmakers.
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