Azerbaijan registers first solar energy project in voluntary carbon market

EKI Energy Services Limited (EKI) has announced the registration of Azerbaijan's first voluntary carbon market project, which is based on solar energy.

Named Project Area 60, it marks Azerbaijan's entry into the voluntary carbon market, Caliber.Az reports via local media.

It also represents the country’s first large-scale solar energy initiative. The project involves the Garadagh Solar Power Plant, which has a capacity of 230 MW (AC), and is designed to reduce approximately 274,074 tons of carbon emissions per year. The project is set to run from January 1, 2024, to January 1, 2029.

This initiative is registered under the Gold Standard for the Global Goals, aligning with several of the United Nations’ Sustainable Development Goals (SDGs), including clean energy, economic growth, and combating climate change. Specifically, the project supports SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), and SDG 13 (Climate Action).

Manish Dabkara Chairman and Managing Director of EKI Energy Services, noted that the registration of Project Area 60 opens up new opportunities for international cooperation and climate action, ahead of the upcoming COP29. He emphasized that this initiative is a concrete step toward achieving the global climate goals outlined in the Paris Agreement.

EKI Energy Services Ltd. is a leading global provider of carbon offset solutions and climate change services. The company operates in over 16 countries and serves more than 3,500 clients across 40 countries, having delivered over 200 million carbon offsets through various standards such as CDM, VCS, Gold Standard, and more.

By Vafa Guliyeva