The global shift towards green energy and climate resilience has opened up new opportunities for SOCAR to expand its presence in the world market, according to Elmir Musayev, General Director of SOCAR Green.
According to Report, speaking at the Baku Climate Action Week, Musayev highlighted that SOCAR's strategy is aimed at achieving "net zero" by 2050.
"At the end of 2023, SOCAR's Supervisory Board decided to establish a special organization to promote SOCAR's green initiatives, and in early 2024, the company was officially established," he stated.
Musayev noted that despite being a young company, SOCAR Green has big ambitions and has already made significant progress in several green energy projects. Musayev pointed out the immense potential for wind energy in the Azerbaijani sector of the Caspian Sea, estimated at 157 gigawatts.
"Taking this into account, we are evaluating project opportunities in this area together with our partner MASDAR," he added.