PAŞA Bank has extended a loan of approximately 8 million manats to finance the construction of the 25 MW "Shams 1" solar power plant in Nakhchivan, Report informs, citing Bahruz Naghiyev, Deputy Chairman of the Bank's Management Board, at a press conference on the first half‑year results.
According to him, the bank acted as the sole financial partner in the project: "The project's contribution to environmental protection is substantial. That is the main point we take pride in. The station is expected to supply electricity to nearly 19,000 homes. As a country, we are committed to raising the share of renewables in total energy production to 30% by 2035. Steps must be taken to achieve this. I am confident that other financial institutions also feel their responsibility in this area and are taking action. Specifically for Nakhchivan, green energy is very important. Implementing renewable energy projects in the region is of great significance. The state has also financed certain projects in this field."
https://report.az/en/finance/azerbaijani-bank-lends-nearly-azn-8m-for-spp-construction-in-nakhchivan