BAKU, Azerbaijan, March 10. The preliminary evaluation of solar and wind energy projects, set to be jointly implemented in Azerbaijan under the MoU between SOCAR Green and PowerChina, is currently underway, SOCAR Green told Trend.
"This strategic partnership aims to explore a range of renewable energy opportunities, including utility-scale solar photovoltaic (PV) projects, onshore and offshore wind farms, and related infrastructure such as battery energy storage and integrated smart energy systems. SOCAR Green and PowerChina are working closely together to assess the feasibility and technical requirements of these projects. The exact investment figures will be determined as the feasibility assessments progress," said the company.
SOCAR Green and PowerChina signed a memorandum of understanding within the framework of COP29 to explore joint opportunities in the development of renewable energy projects in Azerbaijan.
The memorandum paints a vivid picture of collaborative endeavors to construct radiant solar and swirling wind power plants, weaving together intricate intelligent energy systems, and assessing the blossoming projects, related to green hydrogen production and investment.
Moreover, the company said that under the MoU signed with SLB at COP29, the focus is on exploring geothermal energy in the Karabakh region of Azerbaijan.
"Additionally, we would like to highlight another significant achievement at COP29: SOCAR Green signed an MoU with Baker Hughes to screen potential hydrothermal reservoirs and enhanced geothermal systems in the southern regions of Azerbaijan," said SOCAR Green.
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