We are working on geothermal energy projects in the liberated territories, said SOCAR Vice President Afgan Isayev during the session titled “From Green Energy to Regional Integration: Energy Bridges” at the Baku Energy Forum, APA-Economics reports.
According to him, SOCAR is exploring opportunities for developing geothermal energy potential in the liberated territories.
Afgan Isayev stated that, with the support of the Ministry of Energy, regulatory mechanisms, a tariff system, and additional risk mitigation instruments for international investors are being developed to promote the growth of geothermal energy.
“The development of geothermal energy has even been included in Azerbaijan’s Socio-Economic Development Program until 2030. We hope that we will be able to utilize this potential of Azerbaijan in the near future,” he noted.
According to the SOCAR official, the company is also interested in participating in regional electricity exchange projects and is awaiting the results of the feasibility studies being conducted in this area.
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