BP to help Azerbaijan decarbonise energy sector

BP intends to promote the decarbonisation of the oil and gas sector of Azerbaijan.

The company is confident in the possibility of implementing a solar power plant project in the southwest of Azerbaijan, Report quotes Niall Henderson, BP Regional Vice President for Azerbaijan, Georgia and Türkiye as saying on June 8.

“We hope that we will contribute to the decarbonization of the oil and gas sector of Azerbaijan. BP and the Azerbaijani Ministry of Energy have been working together for a long time to implement a solar power plant project in the southwest of the country, in Jabrayil District,” he said.

Henderson is convinced that both parties have made great progress in this regard.

“We have identified innovative solutions that we believe will work for the benefit of solar energy producers and potential buyers in both the private and public sectors. We think that this will be a solution that will help solar and wind energy producers in Azerbaijan in the future. So, we have decided to take the next step by signing an agreement in Shusha on June 4. Together with the ministry, we hope that this will be a really big step that will bring us even closer to the implementation of the project. We are sure of it,” he noted.

BP will carry out the construction of a solar power plant with a capacity of 240 MW in Jabrayil. Initially, the project was estimated at $200 million. On June 3 last year, Azerbaijan’s Ministry of Energy and BP signed an executive agreement to cooperate on the evaluation and construction of a solar power plant. The document was signed as part of the implementation of the strategic decision to create a "green energy" zone in the liberated territories, the development of the renewable energy sector in Azerbaijan, and the commitment to reduce carbon dioxide emissions by up to 35 per cent by 2030, as well as BP's strategy to become a company with "net zero emissions” until 2050.

On June 4, an agreement was signed between the Azerbaijani state-owned energy company SOCAR and BP in Shusha on cooperation in the identification and assessment of the potential for the joint development of "green" energy projects that are technically and financially possible in Azerbaijan.