SOCAR Green, the “green” division of SOCAR, is diversifying its renewable energy portfolio, focusing on constant, weather-independent generation types. The key goal is to launch the first geothermal project in Azerbaijan by 2030. This was announced today at the “Green Energy Week 2025” taking place in Baku.
Currently, projects using earth’s interior energy are at the pilot stage. As explained by company specialist Elchin Targuluyev, their main challenge is the high initial cost, which currently makes the energy production price exceed average network tariffs. To solve this problem, SOCAR Green holds weekly consultations with the Ministry of Energy to develop state support mechanisms that will reduce investor risks and costs.
In addition to geothermal energy, the company is actively developing bioenergy. Plans include creating a modern power plant capable of operating on various types of organic raw materials for combined heat and electricity generation. These projects are expected to be implemented using a B2B (business-to-business) model, targeting local industrial consumers.
In the next five years, SOCAR Green also plans to begin developing hybrid projects that combine multiple energy sources. According to the specialist, such comprehensive solutions will provide more stable and sustainable generation, which is critically important for the reliability of Azerbaijan’s energy system.
