SOCAR And ACWA Power Clinch Agreement On Green Fertilizer Project

2024-04-19 07:15:49

(MENAFN- AzerNews)

Fatime Letifova Read more

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

The agreement was signed by Anar Mammadov, SOCAR's VicePresident, and Driss Berraho, ACWA Power's Vice President ofBusiness Development - Green Hydrogen.

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

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

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