BAKU, Azerbaijan, September 25. bp has finalized the investment decision for its Shafag solar project, marking the company’s first foray into solar energy in Azerbaijan and the first initiative under its 30-year strategic partnership with the country, Florian Aslanbeyli, Vice President of Communications and External Relations for bp in the Caspian region, Trend reports.
Speaking at the 1st Azerbaijan-Britain Political Dialogue at ADA University, Aslanbeyli explained the significance of the bp Shafag solar project
“We are proud that this project will be implemented in territories recently liberated from occupation in Azerbaijan. This gives the project not only commercial and engineering significance but also national importance,” he said.
The project is expected to generate approximately 240 megawatts of solar power.
“Under a special agreement with the government of Azerbaijan, this electricity will feed into the national energy system. In return, an equivalent amount of energy will be delivered from other parts of the grid to the Sangachal terminal, supporting bp’s oil and gas operations and those of our partners,” the VP explained.
Aslanbeyli also highlighted the project’s innovative nature.
“This, in my view, is the best energy transition story I have ever heard. Not just because it is our project, but because a traditional energy company in a country with a rich oil and gas heritage is reinvesting part of its hydrocarbon revenue into solar energy. This solar power, in turn, is used to decarbonize the very oil and gas facilities that made the investment possible. As a result, operational emissions at the Sangachal terminal will be reduced by 50 percent over its lifetime," he concluded.
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