COP29 Operating Company signed a Memorandum of Cooperation with the “Yashil Enerji Electric Station,”
Green Energy for COP29 Stadium and Liberated Territories
Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
At a press briefing in Baku, Ayan Najaf, a member of the COP29 Operating Company’s Coordinating Council, announced that power generators at the Olympic Stadium will utilize Hydrated Vegetable Oil (HVO) fuel. “For the first time, HVO fuel will be used to power a UN climate summit venue, setting a possible precedent for future international forums. This initiative underscores Azerbaijan’s commitment to environmental protection and alternative energy use,” Najaf stated.
In support of this commitment, the COP29 Operating Company signed a Memorandum of Cooperation today with the “Yashil Enerji Electric Station,” a green energy firm headquartered in Lachin. The memorandum was signed by Hikmet Mustafayev, head of the COP29 office, and Emil Ibadov, a representative of Yashil Enerji, which manages green energy projects in Karabakh and Eastern Zangazur.
Ibadov highlighted that 32 hydroelectric plants with a combined capacity of 270 MW are under construction in liberated areas, designated as green energy zones. “Karabakh and Eastern Zangazur can fully meet their energy needs with renewable sources such as water, wind, and solar. Eventually, any surplus could be exported,” Ibadov said, noting that the initiative frees up natural gas for other uses, saving 160 million cubic meters of gas this year and reducing the carbon footprint by 330,000 tons.
In a related development, Azerbaijan’s Cabinet of Ministers has allocated 229 hectares of state land in the Jabrayil district, part of the Eastern Zangazur economic region, for a 100 MW solar power plant, set to be built in two phases of 50 MW each. Azerbaijan aims to have 35% of its electricity generated from renewable sources by 2030, up from the current 20%, including hydroelectric power.
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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