Baku, Azerbaijan, October 23. SOCAR, Azerbaijan’s State Oil Company, is significantly expanding its green energy portfolio through numerous sustainability projects, both within Azerbaijan and internationally, Trend reports via the company's Sustainable Development Report 2023.
SOCAR is taking a major step toward enhancing energy security and reducing costs by establishing a 50 MW wind power plant at its Petrochemical Production facility in Izmir. This project aligns with Türkiye’s efforts to diversify its energy mix and promote green energy.
In Georgia and Romania, SOCAR is promoting renewable energy usage by installing solar panels at its fuel stations.
SOCAR has partnered with "EW Höfe" and "Alpiq" to launch a pioneering project in Switzerland. The joint initiative includes a pilot electrolyzer plant with an annual capacity of up to 10 MW. Additionally, SOCAR will open a hydrogen fueling station, marking its entry into Europe’s hydrogen economy and showcasing its dedication to future-ready energy solutions.
As for Azerbaijan, under the "SOCAR Green" brand, SOCAR is driving low-carbon business solutions and collaborating with global leaders in renewable energy projects.
In September 2023, SOCAR, the Azerbaijan Investment Company (AIC), and bp formalized their partnership by signing a “Joining Agreement” for the development of the “Shafaq” project. This 240 MW solar power plant, located in the Jabrayil region, is a major step in Azerbaijan’s renewable energy expansion.
Moreover, SOCAR and Masdar from the UAE signed two key Joint Development Agreements (JDAs) in January 2023:
- The "Mega" project, which focuses on developing a 2 GW onshore solar and wind power plant.
- The "Hector" project, an integrated green hydrogen asset powered by a 2 GW offshore wind power plant.
In February 2023, SOCAR partnered with Saudi Arabia’s ACWA Power to explore renewable energy projects in Azerbaijan. This cooperation will focus on onshore and offshore wind, solar, and green hydrogen projects, contributing significantly to reducing greenhouse gas emissions.
SOCAR is set to transform the Karabakh and Eastern Zangezur economic regions into carbon-neutral zones through several initiatives, including:
- Emission reduction measures such as increased energy efficiency and carbon capture solutions (CCU/CCUS).
- Developing electric vehicle infrastructure across the region.
- Replacing traditional gas with renewable energy, hydrogen, and other green solutions.
- Producing green fuels such as biogas and biodiesel, contributing to the region’s energy transition.
Follow the author on X: @Lyaman_Zeyn
