BAKU, Azerbaijan, June 2. Work is underway to
develop geothermal energy potential in Azerbaijan's liberated
territories, especially the Kalbajar district, SOCAR Vice President
Afgan Isayev said at a panel discussion held on the second day of
the Baku Energy Week, Trend reports.
According to him, work is being carried out to prepare an
appropriate regulatory framework and tariff mechanisms for the
implementation of geothermal energy projects with the support of
the Ministry of Energy.
Isayev noted that the creation of additional incentive
mechanisms for international investors is also one of the important
factors.
"The issue of geothermal energy development has also been
included in the Socio-Economic Development Program until 2030.
Therefore, we hope that in the near future we will be able to use
the potential that Azerbaijan has in this area," he said.
The vice president added that SOCAR is also interested in
participating in projects related to the international exchange of
electricity.
According to him, the company is eagerly awaiting the results of
the relevant feasibility studies and is ready to join the
projects.
Isayev emphasized that SOCAR's activities in Georgia, Türkiye,
and other countries create additional opportunities for the company
to implement regional energy projects.
"We believe that by using our experience and capabilities in
these countries, we'll be able to implement the aforementioned
projects efficiently and effectively in the future," he added.
