EKI Energy Services Limited (EKI) has registered Azerbaijan’s first voluntary carbon market project using renewable solar energy, marking a significant development ahead of the 29th Conference of Parties (COP29) on November 11, Report informs via The Economic Times.
The solar project, located across Baku and Absheron districts, has an installed capacity of 230 MW (AC). By exporting clean energy to Azerbaijan’s national grid without the use of fossil fuels, it is expected to reduce around 274,074 tons of carbon emissions annually. The crediting period is January 1, 2024 – January 1, 2029.
The project, titled "Project Area 60," is registered under the Gold Standard for the Global Goals framework and aligns with several United Nations Sustainable Development Goals, including SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), and SDG 13 (Climate Action). It represents Azerbaijan’s first large-scale solar initiative and its entry into the voluntary carbon market.
EKI Chairman and Managing Director Manish Dabkara said, “The registration of Project Area 60 paves the way for further climate action and international cooperation, adding momentum to global climate objectives as COP29 begins. By establishing a renewable energy model that directly contributes to reducing greenhouse gas emissions, this initiative underscores the practical steps nations can take to align with the Paris Agreement’s goals.”