BAKU, Azerbaijan, December 28. The Supervisory
Board of Azerbaijan’s state oil firm SOCAR has confirmed the
institution of SOCAR Inexperienced LLC, Development studies by way of the corporate.
The first goal of SOCAR Inexperienced LLC is to proficiently
oversee SOCAR’s strategic ventures throughout the realm of renewable
power. Moreover, the corporate goals to broaden collaboration
alternatives with worldwide companions on this area and
actively contribute to the decarbonization processes inside oil and
fuel operations.
Key actions of SOCAR Inexperienced LLC embrace the implementation of
tasks in renewable power, inexperienced hydrogen manufacturing, carbon
seize, utilization, and storage. The corporate can even play a
important function in formulating strategic roadmaps to cut back carbon
dioxide emissions all through the nation. Concurrently, SOCAR
Inexperienced LLC will analyze and implement international finest practices in these
areas, customizing them to the Azerbaijani context.
Within the preliminary part of the Mega challenge, SOCAR Inexperienced LLC is
collaboratively working with Masdar on tasks involving the
development of land-based wind and solar energy crops with a complete
capability of 1 gigawatt. Moreover, collectively with bp, it focuses
on a 240-megawatt solar energy plant (Dawn challenge) in
Azerbaijan’s Jabrayil district. Future plans embrace the
development of photo voltaic and wind energy crops within the Nakhchivan
Autonomous Republic collectively with ACWA Energy, Masdar, and Vitality
China.
Comply with the writer on X: @Lyaman_Zeyn