Negotiations on bp's Shafag solar energy project in Azerbaijan’s Jabrayil district are already coming to an end, Vice President for Communications and External Relations of bp in the Caspian region Bakhtiyar Aslanbayli told the reporters, Trend reports.
"All possible preparatory processes are nearing completion. We hope that after the completion of technical and commercial works, which are the final moments, we will be able to announce the final investment decision on this project in the future," Aslanbayli said.
According to him, bp is also making major changes to its strategy in the field of renewable energy sources along with oil and gas projects.
"Our new strategy is not choosing between oil and gas resources and new renewable energy resources, but tracking our activities on in both directions. Work is being carried out in parallel. Our activity in Azerbaijan is a perfect example of this," he noted.
Meanwhile, the Ministry of Energy of Azerbaijan and bp signed an executive agreement on cooperation in the field of evaluation and implementation of a 240 MW solar power plant construction project in the Zangilan-Jabrayil zone in June 2022.
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 [from Armenian occupation after the Second Karabakh War] and the development of the renewable energy sector, as well as commitments to reduce carbon emissions by 35 percent by 2030, along with the implementation of bp's strategy to become a zero-emission company by 2050.
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