The question of acquiring 66% in DESFA by the State Oil Company of Azerbaijan (SOCAR) has finally lost relevance.
The Greek government denied the applicant, in spite of the progress in the negotiations. According to the Ministry of Environment and Energy of the country, their position was influenced by the proposal submitted by the candidate buyers (SOCAR and the Italian SNAM) about payment in installments due to the depreciation of the asset. The bankrupt country needs "real money", and alternative offers of the customers did not satisfy the Government of Greece for government guarantees.
Recall the deal to acquire 66% DESFA assets was estimated at 400 million Euros, but in the worst of times for Greece it was blocked by the European Commission, whose statute does not allow monopoly. --17D-
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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