A ceremony was held in Mingachevir to mark the inauguration of the “8 November” Power Plant with the participation of the President of the Republic of Azerbaijan Ilham Aliyev. The event was also attended by representatives of Italian companies, including Italy’s Minister for Enterprises and “Made in Italy,” Adolfo Urso, CEO of the Italian company Ansaldo Energia, Fabrizio Fabbri, Chairman of the Board of China’s Dongfang company, Chen Qiang, as well as representatives of AzerEnergy JSC.During the ceremony, the project’s role in strengthening the country’s energy security and contributing to economic development was emphasized. Kapital Bank acted as one of the main financial partners of this major modernization initiative. In January 2024, a financing agreement was signed between Kapital Bank and AzerEnergy JSC to provide a loan for increasing the production capacity and enhancing the energy efficiency of the power plant located in Mingachevir. With the allocated funds, advanced steam generators and gas turbines were procured from leading Chinese and Italian companies. This modernization project aims not only to improve energy efficiency, but also to support environmental protection, reduce carbon emissions, and enhance regional energy security. Under Azerbaijan’s commitments to the Paris Agreement, it is expected that more than 2.1 million tons of carbon emissions will be reduced, making a significant contribution to the fulfillment of international obligations. Kapital Bank plays an active role in supporting the long-term socio-economic development of Azerbaijan’s regions. The bank is also deeply involved in financing key infrastructure and reconstruction initiatives across the liberated territories of Karabakh and East Zangezur.
Kapital Bank, the country's first bank, is part of PASHA Holding. Kapital Bank has the largest service network in Azerbaijan with 121 branches and 52 departments all over the country. For more detailed information about the bank’s products and services, please refer to https://kapitalbank.az website, 196 Call Centre or the bank’s various social network pages. To apply for a consumer loan visit https://kbl.az/prgtk, for a Birbank installment card visit https://kbl.az/prcrc.
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