BAKU — The State Oil Company of the Azerbaijan Republic (SOCAR) is set to unveil its strategic initiatives in geothermal energy during the upcoming COP29 events, emphasizing its commitment to sustainable energy solutions. The announcement follows a series of significant strides by SOCAR in reducing its carbon footprint and fostering renewable energy technologies.

According to Trend News Agency, SOCAR’s Vice-President Afgan Isayev detailed these developments at the Baku Climate Action Week. He underscored the company's ongoing efforts since COP28, including the signing of pivotal agreements aimed at decarbonization and methane emissions reduction. Isayev shared that the adoption of new technologies in oil and gas extraction has already led to a noteworthy reduction in carbon dioxide emissions.

Furthermore, SOCAR, in collaboration with bp, is spearheading a “green” project which involves the construction of a solar power plant in Azerbaijan's Jabrayil district. This plant is designed to supply electricity to the Sangachal oil and gas terminal, thereby supporting the operations of "Azerenergy." Isayev highlighted the broader scope of SOCAR’s renewable ventures, including three major projects with Masdar to generate 1 GW of green energy, partnerships with ACWA Power, and several other innovative initiatives.

The Vice-President’s remarks reflect SOCAR’s proactive approach in aligning its operations with global climate objectives and its role in fostering a sustainable energy landscape in Azerbaijan.