Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Azerbaijan

Geographic location where the impacts of the investment may be experienced.

Specific Location

Bilasuvar district of the Shirvan-Salyan region

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

Asian Development Bank (ADB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Oct 21, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Bilasuvar Solar SPV LLC (Masdar, SOCAR Green)

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 50.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Loan Amount (USD)

$ 50.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Other Related Projects

Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 31, 2024

Disclosed by Bank Oct 11, 2024

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the ADB, the proposed loan will finance the development, construction and operation of a 445-megawatt solar photovoltaic power plant in Azerbaijan.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The ADB categorized the project E&S risks as follows:

Environment - B;
Involuntary Resettlement - B;
Indigenous Peoples - C.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Asian Development Bank (ADB)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The borrower is a Special Purpose Vehicle established by Abu Dhabi Future Energy Company PJSC – Masdar and SOCAR Green Limited Liability Company.

As stated by Bloomberg, Masdar Abu Dhabi Future Energy Co provides renewable energy solutions. The Company offers clean energy development, sustainable procurement, and supply chain consultancy services. Masdar Abu Dhabi Future Energy serves customers worldwide.

As stated on SOCAR's website, during the convened session of the SOCAR Supervisory Board, attendees reached an agreement to institute SOCAR Green LLC. In alignment with the directives outlined in the Presidential Decree of December 25, 2023, designating 2024 as the ‘Green World Solidarity Year’ in the Republic of Azerbaijan, the principal objective of this newly established entity includes efficient implementation of SOCAR's strategic initiatives in the realm of renewable energy. This encompasses facilitating international collaboration to expand partnership opportunities , and providing support for the processes involved in decarbonizing oil and gas operations.

SOCAR is the State Oil Company of the Azerbaijan Republic.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
SOCAR	Client	Energy	contracts with	Abu Dhabi Future Energy Company PJSC - Masdar	Client	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ADB Team Leader:

Seung Myun Lee - Senior Regional Cooperation Specialist, ADB Central and West Asia Department

No contacts provided at the time of disclosure.

Clients -

SOCAR Green LLC:

Ilkin Osmanov - Director, Project Management, Engineering, and Construction Department
Email: ilkin.osmanov@socar-green.az

Abu Dhabi Future Energy Company PJSC - Masdar:

Amr Usama - Senior Manager, Development & Investment
Email: amohamed@masdar.ae

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.