17:00 - 25.09.2025

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September 25, Fineko/abc.az. SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), plans to commission the country's first geothermal project by 2030.

ABC.AZ informs that SOCAR Green solar and wind energy specialist Elchin Targuluyev stated this during the event "Green Energy Week 2025: Azerbaijan and Central Asia" in Baku.

Targulayev noted that Socar Green is also working on non-variable sources, which are smaller but permanent.

"For example, we are developing geothermal energy projects. They are currently in the first phase - pilot projects that require serious government support, as their cost (LCOE) is higher than current prices on the network. Together with the Ministry of Energy, we discuss issues of support, risk reduction and costs on a weekly basis. Our goal is to commission the first geothermal project in Azerbaijan by 2030," he said.

According to Targuluyev, the company is additionally developing bioenergy.

"There are already several projects: for example, a 37-MW incinerator, which, however, does not directly relate to bioenergy, as well as a number of very small ones. But we want to implement a real bioenergy project - a power plant powered by a variety of raw materials combined in one place to generate heat and electricity. Most likely, such small projects will be implemented using the B2B (business–to-business) model, rather than through public procurement, as there are many local consumers," he said.

According to the expert, in the next 5 years, development of hybrid projects will begin, which are more sustainable compared to projects based on a single source.

"With proper management, they will ensure stable generation, which is extremely important for Azerbaijan's energy sector," he added.