BP Mulls Solar Plant Project in Azerbaijan

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BP has signed an agreement with Azerbaijan's energy ministry to study a project to build a 240 MW solar plant in the region of Zangilan near the border with Iran. The area was captured from Armenia by Azerbaijan’s armed forces in the bloody conflict that concluded at the end of last year (NC Nov.12'20). According to the energy ministry, the agreement aims to establish a “green energy” zone in the newly liberated territories. It is also part of the government’s long-term plan to reduce carbon emissions by some 35% by 2030. Earlier this year, the ministry entered into a pact with BP to assess the scope for renewables projects across the country, underlining the strength of a relationship that has endured for more than 30 years. BP, which is under intense pressure from both shareholders and activist groups to reduce its carbon footprint, remains the largest foreign investor in Azerbaijan. It is operator of the country's two largest oil and gas projects. Over the next 30 years, the UK major is set to invest billions of dollars in the Azeri-Chirag-Guneshli (ACG) development, and it will also expand operations at the Shah Deniz gas field. In March, Socar announced a gas condensate discovery at the offshore Shafag-Asiman structure that it is developing in a joint venture with BP. The full scale of the find has yet to be established (NC Apr.1'21).

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