Baku: SOCAR has proposed the creation of joint consortia with neighboring countries for renewable energy projects in the Caspian Sea. Afghan Isayev, SOCAR’s Vice President, announced this initiative during his speech at the “Baku Energy Forum,” APA-Economics reports.
According to Azeri-Press News Agency, Isayev mentioned that the regional consortium model, which has already shown success in the oil and gas sector, is suitable for renewable energy developments in the Caspian Sea as well. He highlighted that such a collaborative approach could significantly reduce costs and expedite the process of adopting green energy solutions.
Isayev also addressed the logistical and infrastructural challenges SOCAR faces in executing wind energy projects. He pointed out that SOCAR lacks direct access to open seas, making the transportation and installation of wind turbine blades, which start at 92 meters and are increasing in length, a complex task. Additionally, he emphasized the need for specialized vessels for these operations, which necessitates local production capabilities.