The Azerbaijan Investment Company (AIC) has invested AZN 74 million in various green energy initiatives across the country, underscoring its commitment to environmental sustainability and regional development.
In Lachin, AIC is collaborating with Turkey's Demirören Holding to reconstruct five small hydroelectric power stations, aiming to provide renewable energy to the region and reduce reliance on traditional energy sources.
A significant project is underway in the Jabrayil district, where AIC, in partnership with SOCAR Green and bp, is constructing the 240 MW "Sunrise" ("Shafag") solar power plant. This facility is poised to become the largest green energy project in the liberated territories.
Beyond energy generation, AIC is fostering eco-friendly innovation in other regions. In Sumgayit, a new plant is being developed with Italy's Technip Energies to convert plastic waste into pyrolysis oil using advanced thermochemical technology. Additionally, AIC is working with the UAE's Masdar on a project that transforms household waste into energy.
In collaboration with China's BYD and Electrify Azerbaijan, AIC is establishing a factory in Sumgayit to produce electric buses, marking a significant step towards sustainable transportation and local industrial growth.
At the COP29 climate conference in 2024, AIC signed key environmental agreements with international partners, including a recycling initiative with Turkey's Dias Bilişim ve Teknoloji Hizmetleri A.Ş., carbon capture technology development with the UK's Carbonbit Technologies, and battery production with the UAE's Volts.
These initiatives reflect AIC's dedication to building a greener future through innovative projects and global partnerships.
https://renewables.az/en/news/azerbaijan-investment-company-has-invested-azn-74-million-into-green-projects