SOCAR announced a large-scale environmental program until 2050

The State Oil Company of Azerbaijan (SOCAR) has initiated the creation of international consortiums in the field of renewable energy with the participation of Caspian states.

As reported by BAKU.WS with reference to Report, this proposal was made by SOCAR Vice President Afghan Isayev during his speech at the Baku Energy Forum.

"Installing wind turbines in offshore conditions involves serious technical challenges. We need specialized large-sized vessels that must be built in our region. Additionally, an important aspect is the localization of production. We propose to our Caspian Sea neighbors to join efforts in the field of renewable energy and form consortiums similar to those in the oil and gas sector. Such cooperation with all Caspian countries will allow us to more effectively develop the maritime potential of the Caspian. By sharing expenses, we can implement projects faster and with lower costs for each participant," Isayev emphasized.

According to the SOCAR Vice President, on a global scale, the main obstacle to the development of renewable energy today is the limitations of energy networks. He also noted that a significant problem for SOCAR in developing renewable energy sources is the lack of direct access to open seas, which significantly complicates the logistics of large-sized and technically complex equipment.