SOCAR launches Green Bond offering to support renewable energy investments

The State Oil Company of Azerbaijan (SOCAR) will begin issuing "Green Bonds" from January 15, 2025.

SOCAR announced that the bond issuance will amount to $200 million. The issue will consist of 200,000 bonds, each with a nominal value of $1,000. The coupon rate will be 6 per cent per annum, with payments made quarterly. The bonds will have a maturity of five years, Caliber.Az reports, citing SOCAR.

The final date for purchasing SOCAR's "Green Bonds" is February 28, 2025. The funds raised from the issuance will be directed toward financing renewable energy projects implemented by SOCAR Green LLC.

The green bonds, underwritten by Pasha Capital Investment Company, can be purchased at ASAN Service Centres #1 and #5, as well as from investment companies registered in Azerbaijan. For more information, individuals can contact the call center at *1999 or visit the websites www.socaristiqraz.az and www.socarcapital.az. 

Established in 1992, SOCAR plays a crucial role in the country's energy sector, overseeing a range of activities from upstream exploration to downstream refining and marketing. The company operates several key assets, including the major offshore fields in the Caspian Sea such as Gunashli and Azeri-Chirag-Gunashli, which are integral to Azerbaijan's oil production. 

SOCAR is also involved in various international projects and has investments in multiple countries, reflecting its global presence. Chevron Corporation is the US multinational energy corporation predominantly specialising in oil and gas. Chevron works to meet the world's growing demand for energy by exploring for oil and natural gas; refining and marketing gasoline; producing chemicals.

By Naila Huseynova