Azerenerji head: New thermal power plant to pay off in six years

Azerenerji President Baba Rzayev has said that investments in Azerbaijan’s newly commissioned thermal power plant with a capacity of 1,280 MW will pay off in six years at the most.

He made the statement during a speech on the state television channel AzTV, adding that the TPP is the largest for the period since Azerbaijan regained independence, Report informs.

According to him, the existing conditions make it possible to recoup the investment earlier.

"Given the current market prices, these investments are expected to pay off sooner. At the most, it will pay for itself in six years.”

The groundbreaking ceremony for the largest thermal power plant of the period of independence with a capacity of 1,280 MW took place in Gulustan Palace in Baku on February 13. Azerbaijani President Ilham Aliyev attended the event.