Energy
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The Hungarian company MVM Upstream Private Limited Company, a subsidiary of MVM Group, has opened a branch in Azerbaijan, the State Tax Service under the Ministry of Economy of Azerbaijan reported. The company’s branch was registered on August 30, 2024. The legal representative of the branch is Istvan Nemeth, a Hungarian citizen.
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The Saudi Arabian company ACWA Power has founded a subsidiary in Azerbaijan called ACWA Power Technical Financial Services, the State Tax Service under the Ministry of Economy of Azerbaijan reported.
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The State Oil Fund of Azerbaijan (SOFAZ) has signed a Memorandum of Understanding with “Hassana” Investment Company to explore investment opportunities in Saudi Arabia.
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The Azerbaijani operational company COP29 and the "Green Energy" Power Plant LLC signed a Memorandum of Cooperation on October 29.
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