SOCAR Green inks key agreements to accelerate renewable energy development in Azerbaijan PHOTO

During COP29 in Baku, SOCAR Green, the green energy arm of Azerbaijan’s state oil company, signed a series of strategic agreements aimed at advancing renewable energy, improving energy efficiency, and fostering a sustainable future for the country.

According to SOCAR Green, one of the key memorandums of understanding (MoU) was signed with Siemens Energy and Nobel Energy, Caliber.Az reports via local media.

The agreement outlines a joint effort to develop renewable energy projects, enhance energy security, and accelerate the region's transition to cleaner energy sources.

Another significant agreement was reached with Smart Sustainability Solutions (S3) and VEMA SA, ensuring the integration of environmentally friendly solutions into Azerbaijan’s energy sector.

An MoU with Esyasoft Holding focuses on cooperation in renewable energy, sustainability, and ecological solutions. Additionally, SOCAR Green has partnered with Saudi Arabia's FAS Renewables Company to assess the feasibility of installing rooftop solar panels and explore mid-scale solar energy projects.

An agreement with the State Water Resources Agency of Azerbaijan aims to improve energy efficiency in water management and expand renewable energy solutions in the sector.

Finally, a collaboration with the Asian Development Bank will provide technical assistance to strengthen SOCAR Green's operational model and support the country’s decarbonisation goals.

These agreements highlight Azerbaijan's commitment to enhancing its renewable energy infrastructure and progressing towards a greener, more sustainable future.

By Aghakazim Guliyev