Nobel Energy, a NEQSOL Holding subsidiary, supports Azerbaijan’s renewable energy transition with two solar power developments in Jabrayil and Nakhchivan. Developed in cooperation with the Ministry of Energy, these projects highlight Nobel Energy’s growing role in advancing private sector-led solutions within Azerbaijan’s transition to a more diverse and sustainable energy mix.
The first project—a 50-megawatt (MW) facility known as the ‘Ufug’ (Horizon) Power Plant—will be built in Jabrayil under an investment agreement with Enerso Jabrayil, Nobel Energy’s sustainable energy subsidiary. The plant is expected to generate approximately 110 million kilowatt-hours (kWh) of electricity annually, helping to meet national power demand while contributing to local economic revitalisation. In addition to delivering clean energy, the project is anticipated to create over 300 construction jobs and at least 50 long-term positions.
Nobel Energy has signed an Implementation Agreement for a 30 MW solar project in Nakhchivan. This agreement marks a significant step forward in fulfilling the MoU previously signed for developing a 400 MW solar power facility in the region, with the remaining 370 MW designated for export. In this autonomous region, which has limited power generation capacity, the project is intended to boost energy security and reduce dependence on external supplies.
Vugar Samadli, CEO of Nobel Energy, said: ‘At Nobel Energy, we are proud to support Azerbaijan’s green energy transition with major solar projects in Jabrayil and Nakhchivan, developed in partnership with the Ministry of Energy. These initiatives will provide clean energy, create jobs, boost local economies, and enhance energy security.’
Both initiatives will be implemented under a Build-Own-Operate (BOO) model. Nobel Energy will be responsible for financing, construction, and long-term operations – a model designed to ensure project continuity and accountability over time. This approach reflects a broader trend in the region as private developers take on a more prominent role in energy infrastructure delivery.
‘As a group, we’re focused on building long-term value where it’s most needed. Beyond clean power, these projects play a strategic role in strengthening energy resilience, driving local growth, and aligning with the country’s long-term development agenda,’ said Yusif Jabbarov, Chairman of NEQSOL Holding.
Backed by NEQSOL Holding’s experience in energy, telecommunications, and infrastructure, Nobel Energy is well-positioned to manage the complexity of large-scale projects across multiple regions.
The company also applies Environmental, Social, and Governance (ESG) principles throughout project planning and execution – including local hiring, environmental safeguards, and stakeholder engagement.
Both Jabrayil and Nakhchivan are strategically crucial in Azerbaijan’s clean energy landscape. In Jabrayil, the plant contributes to broader redevelopment goals, while in Nakhchivan, increased generation capacity will support longer-term energy self-sufficiency.
According to the Ministry of Energy, Azerbaijan’s total green energy potential is estimated at 27 gigawatts, including 23 GW of solar and 3 GW of wind. Jabrayil – where Nobel Energy is constructing the ‘Ufug’ (Horizon) Power Plant – is among the top regions in Azerbaijan for solar energy potential, with solar radiation levels between 1,600 and 1,700 kWh per square meter annually and an estimated capacity of 7,200 MW shared with neighbouring districts like Fuzuli and Zangilan.
‘Azerbaijan has immense renewable potential. What matters now is turning that potential into action – and we see our role as helping to drive that shift, project by project,’ said Yusif Jabbarov.
Construction on Nobel Energy’s projects is expected to begin in late 2025, following the completion of feasibility studies, environmental assessments, and local consultations already underway. Commissioning is scheduled for 2026. The company is also exploring options to incorporate battery storage and smart grid technologies, allowing for greater system flexibility and more efficient use of intermittent renewable power.
The initiatives in Jabrayil and Nakhchivan underscore Nobel Energy’s commitment to supporting Azerbaijan’s energy transition through strategic, long-term investment. As these projects progress, they aim to strengthen the country’s energy future and create real opportunities for local communities.
