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Nobel Energy and its sustainableenergy subsidiary, Enerso, participated in a high-level meeting at the Ministryof Energy focused on advancing renewable energy development in the NakhchivanAutonomous Republic. The meeting brought together Minister of Energy ParvizShahbazov, representatives of “Azərenerji” OJSC, the Minister of Economy of theNakhchivan Autonomous Republic Kazim Huseynaliyev, the State Agency forRenewable Energy Sources, Azerbaijan Green Energy Company (AGEC), and CEINakhchivan LLC.

During the meeting, discussionswere held on the development of Nakhchivan in line with the strategic vision ofthe President of the Republic of Azerbaijan, Mr. Ilham Aliyev, regarding the“Green Energy Zone.” Participants reviewed measures aimed at expanding the useof renewable energy sources in the Autonomous Republic, establishing moderngrid infrastructure, and strengthening the energy system. Work carried outwithin the energy component of the Zangezur corridor, including the integrationof energy systems and the prospects for electricity exports from Nakhchivan,was also discussed. Cooperation with “CEI Nakhchivan” LLC and “Enerso” LLC onthe construction of 50 MW solar power plants in Nakhchivan was assessed as animportant milestone within the country’s green energy agenda.

Minister of Energy ParvizShahbazov stated: “The broad application of renewable energy sources is one ofthe priority directions in the strategic course of the Head of State, aimed atstrengthening the energy security of the Nakhchivan Autonomous Republic,accelerating its sustainable socio-economic development, and transforming itinto a regional center for energy production and export. Currently, renewableenergy sources account for 44 percent of installed electricity generationcapacity and 36.4 percent of electricity production in Nakhchivan. The ‘Shams1’ and ‘Western Horizon’ (Qərbi Üfüq) solar power plants, representing thefirst examples of private investment in the renewable energy sector inNakhchivan, with a total investment value exceeding AZN 60 million, will make asignificant contribution to establishing a green development model in theregion.”

Eldar Mamedzadeh, ChiefCommercial Officer of Nobel Energy, stated: “We are proud to align with the‘Green Energy Zone’ initiative in Nakhchivan, reinforcing our commitment torenewable energy integration through the development of solar power plants.Nobel Energy remains dedicated to driving this transition, delivering essentialinfrastructure that will foster long-term sustainable economic growth acrossthe region.”

Following the meeting, anInvestment Agreement, Power Purchase Agreement, and Grid Connection Agreementwere signed between the Government of the Republic of Azerbaijan, “Azərenerji”OJSC, and Enerso LLC for the 25 MW “Western Horizon” (Qərbi Üfüq) Solar PowerPlant project. The Investment Agreement was signed on behalf of the Governmentof Azerbaijan by Minister of Energy Parviz Shahbazov, while the Power Purchaseand Grid Connection Agreements were signed by Baba Rzayev, President of “Azərenerji”OJSC.

Upon implementation, the projectsare expected to generate approximately 122 million kWh of electricity annually,enabling savings of 26 million cubic meters of natural gas and reducing carbonemissions by 57,000 tons per year.

On October 28, President of the Republic of Azerbaijan Ilham Aliyev laid the foundation of the “Ufug” Solar Power Plant in Shahvalli village, the Jabrayil district — marking an important milestone in the country’s renewable energy development.

The Minister of Energy, Parviz Shahbazov, together with Nobel Energy’s Chief Commercial Officer and Director of Enerso Jabrayil LLC, Eldar Mamedzadeh, provided the President with detailed information about the 50 MW power plant.

The project represents a key element of Azerbaijan’s green energy strategy and marks the beginning of a new chapter in the energy landscape of the Jabrayil district.

The construction of the plant is being carried out by Enerso Jabrayil LLC, a renewable energy subsidiary of Nobel Energy. Once fully operational, the “Ufug” Solar Power Plant is expected to generate around 110 million kilowatt-hours of clean electricity annually — sufficient to power a moderately sized industrial facility — while significantly reducing the region’s carbon footprint. As a renewable energy source, it will contribute to lowering greenhouse gas emissions and advancing Azerbaijan’s sustainability goals.

Beyond its environmental benefits, the project will deliver significant socio-economic value. It is expected to create over 300 jobs during construction and approximately 50 permanent positions once operational — supporting local capacity-building, skills development, and broader community engagement.

The “Ufug” Solar Power Plant marks a key milestone in Azerbaijan’s clean energy transition, underscoring the country’s growing commitment to sustainable development. It advances national efforts to diversify the energy mix, strengthen energy security, and support global climate action.

Nobel Energy’s senior leadership participated in the Türkiye–Azerbaijan IV Energy Forum held in İzmir, a key event bringing together stakeholders from both countries’ energy sectors to strengthen bilateral cooperation and innovation.

Leading the company’s delegation, Vugar Samadli, CEO of Nobel Energy, was joined by Eldar Mamedzadeh, Chief Commercial Officer of Nobel Energy and Director of Enerso Jabrail LLC (Nobel Energy's sustainable energy subsidiary), and Ramal Guliyev, Chief Operating Officer of Nobel Energy. Their participation underscores the company’s commitment to advancing regional energy collaboration and innovative solutions.

The forum was inaugurated with the participation of Azerbaijan’s Minister of Energy, Parviz Shahbazov, and Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar. Also attending the opening session was Mukhtar Babayev, Representative of the President of Azerbaijan on Climate Issues, highlighting the strategic importance of climate and sustainability in the bilateral energy agenda.

Throughout the forum, discussions were held around the activities of joint working groups covering a wide range of sectors, including Hydrocarbons and Petrochemicals, Renewable Energy, Electricity Market, Distribution and Transmission, Regulation, Energy Efficiency, and the Mining Industry.

Since its launch in 2021, the Türkiye–Azerbaijan Energy Forum has served as a critical platform for exchanging ideas, building partnerships, and fostering innovation across the energy value chain.

Speaking about the company’s involvement, Nobel Energy CEO Vugar Samadli said: “Platforms like this are essential for creating long-term value in our industry. At Nobel Energy, we are dedicated to building partnerships that accelerate the energy transition, delivering reliable and efficient solutions to meet today’s challenges.”

With nearly two decades of experience, Nobel Energy continues to grow as an integrated energy services provider, contributing to the region’s sustainable development goals through innovative and forward-thinking practices.

We are pleased to announce that on June 2, during Baku Energy Week, Enerso Jabrayil signed several key agreements—a Power Purchase Agreement (PPA), a Transmission Connection Agreement (TCA), a Land Lease Agreement, and a Balancing Agreement. These agreements are part of the framework established under the Investment Agreement signed with the Ministry of Energy on April 4, 2025, for the development of the 50 MW ‘Ufug’ (Horizon) Solar Power Plant in the Jabrayil district.

The PPA outlines that Enerso Jabrayil will generate and supply clean electricity from the ‘Ufug’ (Horizon) Solar Power Plant to ‘Azerenerji’, which will purchase and integrate the power into the national grid as well as play a key role on electricity swap mechanism. The TCA complements this process by granting Enerso Jabrayil access to ‘Azerenerji’s’ transmission network, enabling the efficient and secure delivery of renewable electricity to end users. The Land Lease Agreement provides the legal basis for using the designated land plot required to build and operate the 50 MW ‘Ufug’ (Horizon) Solar Power Plant Project. Meanwhile, the Balancing Agreement sets out balancing arrangements for reconciling the actual and forecasted electricity flows.

The PPA and TCA agreements were signed by the Chairman of the Executive Board of “Azerenerji” OJSC, Baba Rzayev, and Chief Commercial Officer of Nobel Energy, Eldar Mamedzadeh, who is also Director of Enerso Jabrail LLC, Nobel Energy's Sustainable Energy subsidiary.

The Land Lease Agreement was signed by Minister of Energy of the Republic of Azerbaijan, Parviz Shahbazov, and Eldar Mamedzadeh, Director of Enerso Jabrayil LLC.

The Balancing Agreement was signed by the Chairman of the Executive Board of “Azerenerji” OJSC, Baba Rzayev; Deputy CEO for Strategy and Finance of Norm OJSC, Elvin Mirzayev; and Eldar Mamedzadeh, Director of Enerso Jabrayil LLC.

This milestone marks a significant advancement in Azerbaijan’s clean energy journey. The project will contribute to the diversification of the country’s energy mix, strengthen energy security, and support its broader sustainability and green transition goals – particularly in the newly liberated territories.

Eldar Mamedzadeh said, “These partnerships are a testament to our shared vision for a cleaner, more resilient energy future for Azerbaijan. The ‘Ufug’ Solar Power Plant is just the beginning, and we are excited to continue working together to create lasting positive impact for the country and its people.”

The ‘Ufug’ (Horizon) 50 MW Solar Power Plant is expected to generate approximately 110 million kilowatt-hours of clean electricity annually – enough to power a moderately scaled industrial facility – and will play a vital role in reducing carbon emissions. Beyond its environmental benefits, the project is set to create over 300 jobs during construction and around 50 permanent roles upon completion, delivering tangible socio-economic value to the region.

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.