Acwa power and Azerbaijan’s state oil company Socar have agreed to work together to decarbonize of some of Socar’s downstream assets through the production of green hydrogen, according to a joint press release. Information about the value and timeline for the project has not yet been disclosed.

The details: The project’s initial phase will focus on Socar’s carbamide fertilizer facility. The two will also conduct feasibility studies on green fertilizers, with Acwa Power taking the lead on renewable-energy production.

What they said: “The cooperation with ACWA Power represents a significant step forward in Azerbaijan’s transition towards a low-carbon economy and underscores the commitment of both organizations to sustainable development practices”, said Anar Mammadov, vice president of Socar.

Acwa Power has a strong foothold in Baku’s renewables industry: The water desalination giant is currently building what’s talked up to be Azerbaijan’s and the region’s largest 240 MW wind power plant with USD 345 mn in investments, the statement reads. The project is expected to generate 1 mn MWh of electricity to offset 400k tons of CO2 emissions annually. The company also signed a roadmap agreement in October 2023 to develop a 200 MW onshore wind farm with battery storage facilities in the landlocked country. This is in addition to a cooperation agreement inked in February 2023 that will see the company set up a 1.5 GW offshore wind energy project. Earlier in 2022, Acwa broke ground on another 240 MW in Azerbaijan with a reported investment ticket of USD 300 mn.

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