President Aliyev confirmed the direct agreement between “AccessBank” and “Masdar Azerbaijan Energy”

President Aliyev confirmed the direct agreement between “AccessBank” and “Masdar Azerbaijan Energy”

The President of the Republic of Azerbaijan signed a Decree on approval of “Direct Agreement on Investment Contract among the Government of the Republic of Azerbaijan, “Masdar Azerbaijan Energy” Closed Joint Stock Company and “AccessBank” Closed Joint Stock Company”.

The Decree states (non-official translation):

Pursuant to the Clause 32 of the Article 109 of the Constitution of the Republic of Azerbaijan, to ensure the implementation of Decree No. 2561 of the President of the Republic of Azerbaijan dated on April 2, 2021 “On measures for development of the pilot project regarding the construction of solar power plant with an installed capacity of 230 MW”, I decide:

1. To confirm the “Direct Agreement on Investment Contract among the Government of the Republic of Azerbaijan, “Masdar Azerbaijan Energy” Closed Joint Stock Company and “AccessBank” Closed Joint Stock Company” signed by the Minister of Energy of the Republic of Azerbaijan on behalf of the Government of the Republic of Azerbaijan on July 30, 2022.

2. This Decree becomes effective upon signature.

Ilham Aliyev

President of the Republic of Azerbaijan

Baku city, November 2, 2022