Azerenergy, SOCAR Trading, Italian Ansaldo Energia Seal Carbon Loan Deal At COP29 (PHOTO)
Date
11/15/2024 7:13:55 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 15. A tripartite
agreement on carbon credits was signed between Azerenergy OJSC,
SOCAR Trading, and the Italian company Ansaldo Energia as part of
the COP29, Azerenergy told Trend .
The document articulates Ansaldo Energia's strategic commitment
to harness carbon credits for the generation of zero-emission
electricity through innovative small hydropower plants in the
Kalbajar district. This initiative encompasses the Chirag-1,
Chirag-2, Soyugbulag, Gamyshly, and Meydan facilities, which were
expertly developed and operationalized by Azerenergy in 2023.
To note, Azerenergy, the largest state-owned electrical power
producer in Azerbaijan, in cooperation with SOCAR Trading, applied
to the Global Carbon Council (Qatar) and Gold Standard
(Switzerland) for carbon certificates for several small hydropower
plants, aiming to participate in the voluntary carbon credit market
in early 2024.
The wheels are to be in motion for these five small hydropower
plants, which are set to keep around 30,000 tons of CO2 from
hitting the atmosphere each year once the registration is all
squared away.
To note, the project, to be implemented in the nation's Karabakh
and Eastern Zangezur, represents one of Azerbaijan's initial
submissions for participation in the voluntary carbon credit
market.
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