Today, the Ministry of Energy of the Republic of Azerbaijan and BP signed an executive agreement on cooperation in the field of assessment and implementation of a 240 MW solar power plant construction project in Zangilan-Jebral zone.
According to HAQQIN.AZ in the ministry, the document was signed as part of a strategic decision related to the creation of a green energy zone on the territories liberated from the occupation and the development of the renewable energy sector of Azerbaijan, and the obligations to reduce carbon emissions by 35% by 2030 , as well as the implementation of the strategy of BP to become a company with zero emissions by 2050.
Minister Pyarkviz Shakhbazov said: “The transformation of Karabakh to the Green Energy zone occupies an important place in the modern course of development established by the President of the Republic of Azerbaijan Ilham Aliyev. The implementation of this task in combination with the priorities of the new strategy of the socio-economic development of Azerbaijan creates ample opportunities To attract foreign investment in the renewable energy sector. The document signed by us today with our long-term strategic partner in the hydrocarbon sector – BP company will open a new page of our cooperation in the field of green energy and decarbonization. I hope that our active cooperation with BP on the Solar project Energy installed 240 MW will attract foreign investment in Karabakh. “
BP Regional President of Azerbaijan, Georgia and Turkey Gary Jones said: “By signing this agreement with the Government of Azerbaijan, we make a step forward in our joint work aimed at creating opportunities for supporting our relevant goals of the energy transition. Over the next decade, BP intends To significantly increase their investments in renewable energy throughout the world and exploring the relevant opportunities in places where it has already established long-term and successful partnerships. We have almost thirty years of experience safe and reliable implementation of energy projects in Azerbaijan. We believe that we have begun joint work on The project of solar energy can pave the path to a new partnership, under which BP can make a significant contribution to the energy transition in Azerbaijan. “
Cooperation within the framework of the Executive Contract covers such areas as a technical and commercial assessment of the Solar Energy project, the design of the station, the provision of funding and the adoption of the final investment decision. It is also planned to create a “Steering Committee” for the relevant events.
Recall, in February 2021, the Ministry of Energy and BP signed a Memorandum of Understanding on cooperation in the assessment of the potential and conditions necessary for large-scale decarbonized and integrated energy and transport systems, including for projects of renewable energy sources in the regions and cities of Azerbaijan.