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Nobel Energy has signed a Memorandum of Understanding (MoU) with the General Company for Carbon Economics under the Iraqi Ministry of Environment, establishing a framework for cooperation on climate action, environmental projects, and sustainable development in Iraq. The MoU was signed during the First International Conference on Carbon Economics held in Baghdad.

The agreement signifies a strategic partnership between Nobel Energy and the General Company for Carbon Economics, focusing on reducing greenhouse gas emissions, advancing the green economy, and supporting Iraq’s national climate goals.

Nobel Energy is eager to leverage its expertise to support Iraq’s environmental objectives and contribute to both regional and global climate efforts.

“Nobel Energy is proud to be part of this important partnership with the Iraqi Ministry of Environment and the General Company for Carbon Economics,” said Samir Mollayev, Deputy CEO of Nobel Energy. “This MoU represents a significant opportunity to advance Iraq’s green economy goals and contribute to global climate action efforts. We look forward to working together to implement impactful projects that reduce emissions and support sustainable development.”

Under the MoU, the Iraqi side will facilitate relevant procedures and identify priority environmental projects. Nobel Energy will contribute technical expertise and project proposals in alignment with Iraq’s environmental policies and regulations. Both parties will work closely over the next year to implement impactful initiatives, with the option to extend the partnership further.

We are pleased to inform that the Ministry of Energy of the Republic of Azerbaijan and Nobel Energy have signed two significant agreements – the Investment Agreement on the 'Ufug' (Horizon) 50 MW Solar PV Project in Jabrayil and an Implementation Agreement to develop a 30 MW Solar Power Plant in Nakhchivan – advancing the country’s clean energy agenda.

The Investment Agreement was signed by Energy Minister Mr. Parviz Shahbazov and Chief Commercial Officer Nobel Energy, Eldar Mamedzadeh, who is also the CEO of enerso, Nobel Energy's Sustainable Energy subsidiary.

The ‘Ufug’ (Horizon) 50 MW Solar Power Plant is aimed at contributing to the region’s green energy transition and supporting local economic growth. Once fully operational, the plant is expected to generate approximately 110 million kilowatt-hours of clean electricity annually, enough to power a moderately scaled industrial facility, significantly reducing its carbon footprint. In addition to its environmental advantages, the project will have a significant impact on local employment, with over 300 individuals engaged during construction and around 50 permanent jobs created upon commissioning.

An Implementation Agreement to develop a 30 MW Solar Power Plant in Nakhchivan was signed by Mr. Elnur Soltanov, Deputy Energy Minister and Vugar Samadli, CEO Nobel Energy. This agreement marks a significant step forward in delivering on the MoU signed previously for the development of a 400MW solar power facility in the region.

The project, developed under a Build-Own-Operate model, includes the full lifecycle – assessment, design, financing, engineering, procurement, construction, commissioning, operation, and maintenance – of the solar power plant. The energy generated will support local consumption, underscoring Nakhchivan’s strategic role in regional energy security.

Eldar Mamedzadeh said: "These agreements reflect our deep commitment to supporting Azerbaijan’s green energy transition and strengthening the region’s energy resilience. By developing these clean energy projects, we are not only helping reduce carbon emissions but also unlocking sustainable economic opportunities. With a dedicated team of engineers, designers, and technicians, we are committed to ensuring the highest standards of efficiency and safety in delivering solar power solutions of any scale. The Ministry’s trust in Nobel Energy to deliver such a vital project is a testament to our proven capabilities, and we are proud to lead this step toward a cleaner and more secure energy future."

Both agreements were signed on 4 April, in Baku, during the high profile 11th Southern Gas Corridor and 3rd Green Energy Advisory Council Ministerial Meetings.

Nobel Energy Group, part of NEQSOL Holding, is an Integrated Energy Production, Development and Services Company committed to contributing to the global transition towards a sustainable and low-carbon future. By leveraging trusted expertise, integrated solutions, advanced technology, strategic partnerships, and a strong focus on innovation, Nobel Energy has positioned itself as a reliable partner in delivering complex and sustainable infrastructure projects across the globe.

SOCAR Green, Siemens Energy and Nobel Energy signed a Memorandum of Understanding (MOU) to jointly develop renewable energy projects. This partnership aims to accelerate sustainable energy initiatives, enhance energy security, and support the region’s shift toward cleaner energy sources.

Vugar Samadli, Chief Executive Officer, Nobel Energy: "This partnership marks another significant step toward a cleaner, more resilient energy future. Together with SOCAR Green and Siemens Energy, we are committed to advancing sustainable energy solutions that not only support the region’s energy security but also drive impactful progress in the global energy transition".

Elmir Musayev, General Director, SOCAR Green: “The MOU signed by SOCAR Green, Siemens Energy, and Nobel Energy represents a shared commitment to sustainability and environmental stewardship. Together, we will drive the transition to renewable energy, demonstrating that collaboration is key to a cleaner, brighter future."

Audubon Engineering Company (Audubon), a Nobel Energy Group subsidiary, leading provider of engineering, procurement, and construction (EPC) solutions, announced it has been awarded a contract for the bp Kaskida project in the US Gulf of Mexico. Audubon will complete topside engineering and design of the Kaskida floating production unit (FPU), leveraging Audubon’s established design philosophies that will allow for faster cycle time.

Audubon will harness its robust knowledge and experience—most recently exhibited for the successful Delta House, King’s Quay, and Shenandoah semisubmersibles—to design Kaskida’s topside, prioritizing smart design and tight execution.

Audubon Executive Vice President of Offshore Terry Mienie remarked on the project award: “Our engineering team holds decades of talent and experience designing and delivering exceptional offshore platforms. We are excited to collaborate with bp, utilizing our topside expertise to develop Kaskida optimally and safely.”

David Robison, Audubon CEO, commented, “Our entire team is thrilled to contribute to Kaskida. This project represents an opportunity for Audubon to showcase our engineering proficiency and agility for one of the most significant oil and gas plays in US history. Our team is committed to delivering quality for every client and every project, and we especially look forward to supporting bp with its production objectives for the Gulf of Mexico.”

Engineering work for the Kaskida FPU has already begun, with Audubon designing the topside and EXMAR Offshore designing the hull.

About Audubon

Founded in 1997, Audubon Engineering Company is a leading provider of integrated engineering, procurement, construction (EPC), fabrication, and technical field services. Serving the energy, power, utility, industrial, and infrastructure sectors, our end-to-end life-cycle solutions solve our clients' biggest challenges. Leveraging technology, ingenuity, and experience, we deliver outstanding project outcomes for a better tomorrow. For more information, visit www.auduboncompanies.com.

Nobel Energy Group participated in the 29th International Caspian Oil & Gas Exhibition, 4-6 June, at the Expo Center, as part of Baku Energy Week. This high-profile industry event provided an exceptional platform for us to showcase our expanding capacity, capabilities, and significant milestones on both regional and global scales.

Nobel Energy's innovative and informative stand drew a large number of visitors, offering comprehensive insights into the company's unique value proposition and successfully delivered projects. The stand highlighted our commitment to innovation and excellence, reflecting Nobel Energy's strategic vision and operational strengths. The engaging display and well-informed team members ensured that every visitor left the stand with a clear understanding of Nobel Energy's wide-ranging services and achievements.

In addition to the stand, in the framework of Baku Energy Week, Nobel Energy organized two informative panel discussions. On June 4, the company hosted a panel titled ‘Breaking the Mold: Reshaping Energy Solutions’, which focused on innovative strategies employed by service providers like Nobel Energy to tackle regional and global challenges faced by major energy companies. Featuring Nobel Energy Executive Board Member Mr. Richard Duff, Vice President of SOCAR, and Mr. Cathal Kelly, Vice President of BP, and moderated by Ambassador Mr. Matthew Bryza, the panel underscored the importance of optimizing investment costs and operational efficiency while maintaining safety and quality standards. It also emphasized the critical role of technology, research, and collaboration in crafting effective solutions.

On the second day of the event, Mr. Robert Mundt, Senior Manager of Advanced Facilities and Data Center Services at Audubon Companies, joined a discussion on how AI is revolutionizing the energy sector. Together with Mr. Saravan Penubarthi, Chief Technology Director at AIQ, and moderated by AI and emerging technologies expert Mr. Emin Aliev, the panel explored AI's role in optimizing energy systems, addressing challenges, and driving the transition toward a more sustainable future. Both panels featured esteemed industry experts and provided valuable discussions on the future of energy.

The participation in this significant event, underscores our dedication to advancing the energy sector and proactive approach to fostering collaborations.

The joint development of a 100MW photovoltaic solar power plant will be executed in two stages. The initial phase, comprising 50MW, is scheduled for completion by 2027, with the remaining capacity to be installed in subsequent years.

The plant aims to generate some 180 million kilowatt-hours of electricity annually, providing power to around 58,000 households. The construction phase of the plant will engage a workforce totaling 600 individuals, while its commissioning will lead to the creation of 80 permanent jobs.

Vugar Samadli, CEO of Nobel Energy said: “We are excited for the opportunity to be part of the region’s green transformation plans which is consistent with Nobel Energy’s strategic intent to contribute to a lower carbon future in the region and beyond. With a focus on efficiency and safety, our skilled and tested team of engineers, designers, and technicians is the driving force in the successful execution of solar power project of any scale." 

A customized technical protocol outlining a series of activities has been agreed upon and signed with Azerenerji, the primary electricity producer and transmission system operator in the country. Additionally, the project land plot has been approved by relevant government institutions in the Jabrayil district.

Currently, the pertinent investment agreement, power purchase agreement, and grid connection agreement are being developed jointly with the Ministry of Energy of Azerbaijan and Azerenerji. 

Note to editors

Nobel Energy Group, part of NEQSOL Holding, is an Integrated Energy Production, Development and Services Company committed to contributing to the global transition towards a sustainable and low-carbon future. By leveraging trusted expertise, integrated solutions, advanced technology, strategic partnerships, and a strong focus on innovation, Nobel Energy has positioned itself as a reliable partner in delivering complex and sustainable infrastructure projects across the globe.