SOCAR Green company established within structure of SOCAR

At a regular meeting, the Supervisory Board of the State Oil Company of Azerbaijan (SOCAR) has approved the establishment of SOCAR Green LLC, Report informs referring to SOCAR.

As part of the tasks arising from the order of Azerbaijani President Ilham Aliyev dated December 25, 2023 on declaring 2024 the “Green World Solidarity Year,” the creation of SOCAR Green LLC was approved for the development of renewable energy sources in the country, and also achieving the decarbonization goals of the State Oil Company of Azerbaijan.

The main areas of the company’s activities are the implementation of projects such as renewable energy, the production of green hydrogen, carbon recycling and storage, and assistance in the preparation of strategic roadmaps to reduce carbon emissions throughout the country. At the same time, the new company will study international experience in these areas and implement it in Azerbaijan.