This speech was delivered by our CCO Eldar Mamedzadeh at the COP28 in Dubai.
Ladies and gentlemen,
Firstly, I would like to greet everyone here and thank the COP28 hosts for excellently organized event and express our gratitude to the Ministry of Energy, Natural Resources of the Republic of Azerbaijan and AREA (Azerbaijan Renewable Energy Agency) for granting Nobel Energy a privilege to share our vision at such supreme platform dedicated to global climate discourse.
We live in a time of unprecedented environmental challenges affecting us all on a daily basis. Climate change, decarbonization, and carbon capture concern us all, whether as countries, businesses, or individuals. It all makes us to rethink and redefine our growth route to ensure that produced energy should not only be affordable, sustainable, reliable, but also clean.
Today, the world is going through an era of energy transition and I am proud that my country aims to be front runner in this transformation process. The President of Azerbaijan, His Excellency Ilham Aliyev has set an ambitious goal for Azerbaijan to become an important supplier of electricity, produced from green energy, to Europe. Azerbaijan’s clean energy goal is set to generate more than 30 percent of its overall energy capacity from renewables by 2030.
Where does Nobel Energy fit into this transformative landscape?
Allow me to introduce Nobel Energy – a Group of companies with nearly 20 years of experience in the energy and construction services fields, present in 11 countries across 4 continents, with major footprint in Azerbaijan and the USA.
Nobel Energy has provided integrated engineering, construction, procurement and supply chain management, drilling, fabrication; and maintenance, repair and operations services to the oil and gas, power and water industries, serving major energy giants such as National Oil Companies.
Being committed to sustainable growth and environmental responsibility, Nobel Energy set out a new strategy in 2021, to transform from an Oil and Gas Services company to an Integrated Drilling Production, Development and Services company. We have identified clean energy investments as a key avenue for our substantial growth.
Our dedication to fostering Azerbaijan's green initiatives has led us to invest in renewable energy projects in strategic areas like Nakhchivan and newly liberated territories of Karabakh and East Zangazur, identified by the government as pivotal green zones.
Stimulating eco-friendly growth
In June of this year we reached a significant milestone by signing a memorandum of understanding (MoU) with the Ministry of Energy of Azerbaijan for the phased development of overall 400MW of solar power plants in Nakhchivan, both for local use and export.
The anticipated 25-year average lifespan of the 400MW solar power station is projected to mitigate 4,680,000 tonnes of carbon emissions. With an annual power generating capacity of 800GWh per annum for the 400MW installation, it is equivalent to powering over 255,000 households.
Another Nobel Energy undertaking will see the development of a 100MW Solar Power Station in the liberated Jabrayil region of East Zangazur. It is anticipated to save 1,170,000 tons of carbon emissions over 25 years of its lifespan. This station is expected to produce 175GWh of electricity annually, catering to the needs of around 56,000 households, greatly contributing to the region’s energy security and sustainable socio-economic growth without harming its unique geography. We will start execution of both solar power stations soon.
We want to take pride for both of these projects that carry strategic and symbolic significance for the country and our company. They symbolize a pivotal transformation for Nakhchivan by reshaping it from an energy-dependent region into an exporter of clean energy. The second project signifies a light of resilience, reviving the once vibrant Jabrayil region that was subjected to three decades of devastation due to the occupation.
Contributing to a Better World
What makes Nobel Energy confident to undertake such critical projects? It's our rich expertise and capabilities, built on decades of experience, visionary strategies, and adaptable transformations. These assets not only empower us to emerge as green energy producer, but also enable us to deliver innovative end-to-end solutions to our clients across the domain.
Our dedication goes beyond just producing energy. We're deeply committed to reducing the impact of greenhouse gas emissions. Through our carbon capture line, Nobel Energy is leading the way with reliable solutions that help heavy industries cut their carbon footprint using carbon capture and storage technology, meeting stringent low carbon fuel standards.
For onshore oil and gas facilities aiming to reduce their carbon emissions in the long run, we have the expertise and capacity to facilitate their carbon capture needs.
Just to give an example, we've designed an offshore platform specifically for injecting and storing CO2 in shallow waters of the Gulf of Mexico. This platform, built for remote operations, uses top-notch automation for reliable functions and monitoring. This means fewer maintenance trips, lower risks, and higher efficiency in operations and production, and most certainly managing their CO2 output.
We also pioneer innovative engineering, fabrication, and assembly of modular processing and treating systems, and our commitment to sustainability of energy extends to pioneering technologies like renewable natural gas, hydrogen production, and gas distillation, all of which redefine sustainable energy solutions.
Looking ahead, Nobel Energy aims to establish an innovative and sustainable energy ecosystem over the coming decade, targeting an installed mix of 5GW in thermal and renewable energy generation capacities.
Our roadmap involves strategic investments, partnerships, and diverse operational models, with initial focal points in Azerbaijan, followed by expansion across the region.
Thank you for your attention.