SOCAR unveils regional energy efficiency push with pilot hybrid project

The State Oil Company of Azerbaijan (SOCAR) plans to share its expertise in improving energy efficiency with countries across the region, Elmir Musayev, CEO of SOCAR Green, said during a panel discussion at the 2nd International Exhibition and Conference for Water Management– Baku Water Week.

Musayev noted that SOCAR Green is a relatively new company with a renewable energy project portfolio totaling 1.7 GW in capacity, Caliber.Az reports via local media.

“We cooperate with companies from the Middle East, China, and Europe, including ACWA Power. Our activities cover solar and wind energy projects, offshore wind energy, carbon capture, water efficiency, as well as green hydrogen, geothermal energy, and energy efficiency initiatives,” Musayev said.

Highlighting an agreement signed the previous day with the State Water Resources Agency of Azerbaijan (ADSEA), Musayev emphasized its focus on an energy efficiency project aimed at reducing or completely eliminating excessive energy consumption. The initiative will also promote water conservation by curbing the misuse of excess water.

Musayev revealed that SOCAR plans to implement a pilot hybrid project with ADSEA. The project will feature onshore wind power plants, floating or stationary solar panels installed on water, and an energy storage system using battery technology.

“Yesterday, a memorandum of understanding was signed between the two organizations on this issue. Here, the agency will act as a buyer. This will directly contribute to the decarbonization of both the agency and the company. We are already conducting a technical review and are quite optimistic. After the completion of this pilot project, we will be able to expand it to other sites in Azerbaijan, and we can also apply this approach in Central Asia and neighboring countries,” Musayev noted.

By Vafa Guliyeva