TotalEnergies, BP hail great energy potential of Azerbaijani exclave

ECONOMICS  04 June 2023 - 11:13

Managing Director and Country Chair at TotalEnergies Azerbaijan Regis Agut has said that the Nakhchivan Autonomous Republic of Azerbaijan has great potential in the sphere of innovative energy.

"We are interested in installing solar panels in the autonomous republic and hope to accelerate research in this area. The memorandum we signed is intended to explore this potential. I hope that this project will turn Nakhchivan into a green energy zone," Report quotes Agut as telling Azerbaijani journalists in an interview on June 3.

In addition, BP's regional president for Azerbaijan, Georgia and Türkiye Gary Jones has said that Nakhchivan has enormous potential in terms of solar energy.

"There are favourable conditions here for installing solar panels and creating great export potential. We have heard a lot about this, and I think it is a huge opportunity for the region. Last year we held a meeting on energy projects in Shusha, and this year in Nakhchivan. I can't wait to visit the historical and cultural sites in Nakhchivan for the rest of the day," Gary Jones added.

On June 3, Azerbaijan’s Energy Ministry and TotalEnergies Renewables SAS signed a memorandum of understanding on cooperation in green energy in the Nakhchivan Autonomous Republic.

In this vein, the sides signed the document on the activities for the evaluation and implementation of projects of onshore wind farms with a capacity of 250 MW, solar power plants with a capacity of 250 MW in Nakhchivan AR, as well as energy storage systems, Report informs. 

The signing ceremony took place at a special session within the framework of the Baku Energy Week in Nakhchivan.

In addition, the ministry and Nobel Energy Management LLC signed a "Memorandum of Understanding on Cooperation in connection with the construction of a 400 MW solar power plant in the Nakhchivan Autonomous Republic and the export of electricity to Türkiye”. 

As part of the event, the State Oil Company (SOCAR) and China Energy International Group Co.Ltd signed a cooperation agreement.

The agreement provides for the development of renewable energy projects in the territory of Azerbaijan, the organisation of the exchange of experience between the parties, the optimal approach to the implementation of potential projects in technical and financial terms, and other issues.

Caliber.Az