SOCAR Green, a subsidiary of the State Oil Company of the Republic of Azerbaijan (SOCAR), marks two years since its establishment, reinforcing its role in advancing the country’s green energy agenda.
Created to manage SOCAR’s strategic renewable energy portfolio, the company focuses on expanding international partnerships and supporting decarbonization across oil and gas operations. Over the past two years, SOCAR Green has positioned itself as a key player in Azerbaijan’s transition toward cleaner and more sustainable energy solutions.
Its core activities include the development of renewable energy projects, green hydrogen production, geothermal energy initiatives, and carbon capture, utilization and storage (CCUS) solutions. The company also contributes to the preparation of strategic roadmaps aimed at reducing carbon emissions nationwide.
SOCAR Green has signed cooperation agreements with a wide range of local and international partners, including the Azerbaijan State Water Resources Agency, the High Technologies Park, the Asian Development Bank, Masdar, ACWA Power, bp, Energy China, PowerChina, Baker Hughes, Siemens Energy, and several other global energy and technology companies.
Currently, the company is implementing more than 10 renewable energy projects with a combined capacity of 1.66 GW, underlining its growing footprint in the sector.
The decision to establish SOCAR Green LLC was approved at a meeting of SOCAR’s Supervisory Board at the end of 2023. The company was founded with a charter capital of USD 16.5 million.
