BAKU, Azerbaijan, February 15. bp's Shafag solar power plant project in Azerbaijan will be completed by the end of 2025, Vice President of the State Oil Company of Azerbaijan (SOCAR) Afgan Isayev said during the forum themed "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku, Trend reports.
He underlined that SOCAR, the Azerbaijan Investment Company, and bp will work together to build a 240 MW power plant.
"The Sangachal terminal will be supplied with electricity produced at the Shafag plant, and as a result, this will reduce emissions equivalent to 260,000-330,000 tons of carbon dioxide (CO2) per year," the spokesman said.
Meanwhile, the Ministry of Energy of Azerbaijan and bp signed an executive agreement on cooperation in June 2022 on the assessment and implementation of a 240 MW solar power plant project in the Zangilan-Jabrail zone. This document was signed as part of a strategic decision related to the creation of a green energy zone in the liberated territories of Azerbaijan and the development of the renewable energy sector, as well as commitments to reduce carbon emissions by 35 percent by 2030 and implement bp's strategy to become a zero-emission company by 2050.
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