Today.Az » Business » SOCAR and ACWA Power clinch agreement on Green Fertilizer project
19 April 2024 [15:03] - Today.Az

Fatime Letifova

The State Oil Company of Azerbaijan Republic (SOCAR) and ACWA Power, from the Kingdom of Saudi Arabia, signed a cooperation agreement focused on Green Fertilisers, Azernews reports.

The agreement was signed by Anar Mammadov, SOCAR’s Vice President, and Driss Berraho, ACWA Power’s Vice President of Business Development - Green Hydrogen.

This partnership builds on the foundations laid by a previous agreement signed on February 2, 2023, which outlined the joint development of renewable energy projects, including wind, solar, and green hydrogen, in the Republic of Azerbaijan.

The new agreement specifically targets the potential production and distribution of green fertilisers, predominantly urea, under the Low Carbon / Green Fertilizer project. According to the agreement, ACWA Power will take a leading role in the renewable energy production and green hydrogen aspects of the project, underscoring the collaborative effort towards reducing carbon emissions in fertiliser production.

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