Billionaire Distributes AZN 19,795 among Shareholders

The Asian Infrastructure Investment Bank (AIIB) has announced the size of its first allocated loan for renewable energy projects in Azerbaijan.

In Azerbaijan, debates are ongoing about the feasibility of hosting the UN Climate Conference COP29 in Baku. Azerbaijani critics argue that the event could place a heavy burden on the country's budget, with rumors circulating that the recent increase in fines for traffic violations and a surge in such penalties aim to fill the budget gap left by COP29 expenses.

The State Oil Company of Azerbaijan (SOCAR), through one of its trading subsidiaries — SOCAR Trading, is seeking a license from the Romanian regulator to conduct trading operations in the country, an informed source exclusively told Turan.

In an exclusive interview with Turan, Javid Abdullayev, Director of the State Agency for Renewable Energy (AREA) under Azerbaijan’s Ministry of Energy, detailed the stages for constructing offshore wind farms in the Azerbaijani sector of the Caspian Sea by 2040.