BAKU, Azerbaijan, June 2. Work is underway to develop geothermal energy potential in Azerbaijan's liberated territories, especially the Kalbajar district, SOCAR Vice President Afgan Isayev said at a panel discussion held on the second day of the Baku Energy Week, Trend reports.
According to him, work is being carried out to prepare an appropriate regulatory framework and tariff mechanisms for the implementation of geothermal energy projects with the support of the Ministry of Energy.
Isayev noted that the creation of additional incentive mechanisms for international investors is also one of the important factors.
"The issue of geothermal energy development has also been included in the Socio-Economic Development Program until 2030. Therefore, we hope that in the near future we will be able to use the potential that Azerbaijan has in this area," he said.
The vice president added that SOCAR is also interested in participating in projects related to the international exchange of electricity.
According to him, the company is eagerly awaiting the results of the relevant feasibility studies and is ready to join the projects.
Isayev emphasized that SOCAR's activities in Georgia, Türkiye, and other countries create additional opportunities for the company to implement regional energy projects.
"We believe that by using our experience and capabilities in these countries, we'll be able to implement the aforementioned projects efficiently and effectively in the future," he added.
