{"id":83717,"date":"2024-04-23T00:00:00","date_gmt":"2024-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/04\/23\/acwa-power-and-azerbaijans-socar-team-up-on-green-hydrogen-production\/"},"modified":"2024-04-23T00:00:00","modified_gmt":"2024-04-23T00:00:00","slug":"acwa-power-and-azerbaijans-socar-team-up-on-green-hydrogen-production","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/04\/23\/acwa-power-and-azerbaijans-socar-team-up-on-green-hydrogen-production\/","title":{"rendered":"Acwa Power and Azerbaijan\u2019s Socar team up on green hydrogen production"},"content":{"rendered":"

Acwa Power and Azerbaijan\u2019s state oil company <\/strong>Socar<\/a><\/strong> have agreed to work <\/strong>together to decarbonize some of Socar\u2019s downstream assets<\/strong> through the production of green hydrogen, according to a joint press release<\/a>. Information about the value and timeline for the project has not yet been disclosed.<\/p>\n

The details:<\/strong> The project\u2019s initial phase will focus on Socar\u2019s carbamide fertilizer facility. The two will also conduct feasibility studies on green fertilizers, with Acwa Power taking the lead on renewable-energy production. <\/p>\n

Acwa Power has a strong foothold in Baku\u2019s renewables industry:<\/strong> The renewables giant signed an MoU<\/a> with the UAE's Masdar and Socar to develop 500 MW of renewable energy projects in Azerbaijan last November<\/a> and is currently building the region's largest 240 MW wind power plant<\/a> in the country, the statement reads. The company also signed a roadmap agreement in October 2023<\/a> to develop a 200 MW onshore wind farm with battery storage facilities and a cooperation agreement in February 2023<\/a> that will see the company set up a 1.5 GW offshore wind energy project. Earlier in 2022, Acwa broke ground<\/a> on another 240 MW wind project in Azerbaijan with a reported investment ticket of USD 300 mn.<\/p>\n

Socar also has projects in place with the UAE: <\/strong>The UAE\u2019s Adnoc and Socar signed an agreement to collaborate on developing low-carbon energy technologies<\/a> last December. Masdar also signed an agreement<\/a> with Socar last year to develop renewables projects with a combined capacity of 4 GW.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project\u2019s initial phase will focus on Socar\u2019s carbamide fertilizer facility<\/p>\n","protected":false},"author":1,"featured_media":83718,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[184,74,11,39,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-acwa-power","tag-decarbonization","tag-enterpriseclimate","tag-green-hydrogen","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"642a39fe-c5e2-4721-a566-a806dc83580c","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1617.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power and Azerbaijan\u2019s Socar team up on green hydrogen production","related_issue":[83710],"teaser":"The project\u2019s initial phase will focus on Socar\u2019s carbamide fertilizer facility","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.5a01a9d0-54db-4be1-a601-6f41ccf7a446.mp3"},"yoast_head":"\nAcwa Power and Azerbaijan\u2019s Socar team up on green hydrogen production - 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