00:01Azerbaijan's energy sector is expanding beyond its national borders through overseas investments and renewables.
00:08The state oil company, better known as Sokar, has partnerships with companies such as Mazda, BP, Aquapower and Total Energies,
00:16repositioning their role within the international energy markets.
00:20I'm Nadira Tudor and welcome to Business Horizons.
00:23On today's programme, we're looking at From the Caspian to the World, Azerbaijan's international energy projects.
00:38Welcome to the programme, Mr Musayef.
00:40Thank you very much. Pleasure to be here.
00:43Now, Sokha Green was established to support Sokha's energy transition strategy.
00:49What role does it play in translating these ambitions into concrete projects?
00:55We have a total portfolio of renewable energy projects with a total capacity exceeding 1.5 gigawatts,
01:01which is under the development and many more projects in the pipeline.
01:05We know that the global energy industry has changed quite dramatically and rapidly.
01:11Why have those changes happened?
01:12The 19th century was largely shaped by coal and industrial revolution.
01:18The 20th century saw oil becoming central to the global economy, followed by natural gas.
01:24Today, we are entering another phase, one that is less about a single source and technology
01:30and increasingly about energy system.
01:33Now, given those developments that you've described,
01:36how is Sokha adapting its strategy to advance the energy transition?
01:42The objective is not to replace one part of the energy system with another overnight,
01:47but rather to build new capabilities while also providing secure and reliable energy,
01:52which is required by the markets today.
01:54What are the key priorities in developing the country's renewable energy portfolio?
01:59First, we aim to expand Azerbaijan's renewable generation portfolio through commercially viable projects
02:05that strengthen energy security and also diversify the country's energy mix.
02:10Second, we support the decarbonisation efforts of our parent company Sokar.
02:14Third, we are exploring battery storage, hybrid generation and round-the-clock renewable energy supply
02:20to improve the system flexibility and reliability.
02:23Mr. Masayev, thank you.
02:25Thank you very much. It was a pleasure.
02:30Azerbaijan is focusing on a number of key areas, including global energy cooperation,
02:35energy security, international investment, renewable energy, technology and its strategic partnerships.
02:41The Black Sea Submarine Cable is a strategic green energy bridge connecting the South Caucasus
02:46with the European Union.
02:48It's spearheaded by Azerbaijan, Georgia, Romania and Hungary.
02:52The project will lay a high-voltage direct current cable from Azerbaijan to Hungary,
02:57of which 1,100 km will be laid underwater through the Black Sea.
03:02There are many significant projects in Azerbaijan's energy portfolio, including
03:06two solar parks in partnership with Mazda,
03:09AquaPower's Kiji Absheron Wind Power Plant, which is Azerbaijan's first foreign investment-based independent wind project,
03:17Shafak Solar Power Plant in Jabrail, which is a $200 million joint venture between BP and Sokar,
03:24and the Central Asia-Azerbaijan Green Energy Corridor, which is a major infrastructure initiative.
03:29International energy projects are more than agreement and investment.
03:33So we went on location to a solar power plant to find out more.
03:48Govistan is a favorable condition for the solar power.
03:51It doesn't mean that just the solar power – it means everything.
03:55So we have solar radiation and now we have solar panels capture this solar radiation and directly produce the electricity.
04:02So it first produces the direct current, or we can call it DC current, and then passing through the inverters,
04:09which is located at the power plant, it's converted to the alternate current, or we can call it AC.
04:16The next step is passing through the transformers, which is increasing the voltage of the electricity in order to transmit
04:24it to the national grid.
04:26Eleven renewable energy power plant is planned till 2027. Three of them all are commissioned. Three of them will be
04:32commissioned, we hope, till the end of this year, and five of them till the end of the next year.
04:40There's no doubt that the future of energy is increasingly being built on international cooperation, innovation, and trusted partnerships, as
04:48the understanding for the need for diversification continues to grow.
04:52That's all for this edition of Business Horizons. Thanks for watching.
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