bp inks new agreement in Azerbaijan on Sunrise project

SEPTEMBER 21, 2023

bp, Azerbaijan’s state oil company SOCAR and the Azerbaijan Investment Company (AIC) have signed an Accession Agreement which specifies SOCAR’s and AIC’s intention to enter the Sunrise project for construction of a solar power plant in Azerbaijan’s Jabrayil district, Trend reports via BP.

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.